Philip Morris International Inc. (NYSE:PM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,040,487 shares of the company's stock after selling 76,168 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Philip Morris International worth $247,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Woodmont Investment Counsel LLC boosted its stake in shares of Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company's stock valued at $662,000 after acquiring an additional 86 shares during the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company's stock worth $262,000 after purchasing an additional 87 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its stake in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company's stock worth $1,306,000 after purchasing an additional 88 shares during the last quarter. Dearborn Partners LLC grew its holdings in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company's stock worth $291,000 after buying an additional 89 shares in the last quarter. Finally, Cypress Wealth Services LLC grew its holdings in shares of Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company's stock worth $819,000 after buying an additional 89 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Barclays boosted their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus target price of $127.85.

Philip Morris International Price Performance

NYSE PM traded down $0.76 during trading hours on Tuesday, hitting $124.19. The company had a trading volume of 3,835,984 shares, compared to its average volume of 5,394,396. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company has a market capitalization of $193.09 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 2.21 and a beta of 0.54. The firm's 50 day moving average is $124.24 and its 200 day moving average is $112.81.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.35%. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.