Wilmington Savings Fund Society FSB Acquires 29,310 Shares of Philip Morris International Inc. (NYSE:PM)

Wilmington Savings Fund Society FSB boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 94.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,413 shares of the company's stock after acquiring an additional 29,310 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Philip Morris International were worth $7,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its position in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company's stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company's stock worth $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analysts Set New Price Targets

PM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Stifel Nicolaus restated a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Barclays increased their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $131.50.

Philip Morris International Stock Performance

Shares of PM stock traded down $0.31 on Friday, hitting $126.69. The company's stock had a trading volume of 1,167,388 shares, compared to its average volume of 5,338,289. The stock's 50 day moving average is $127.35 and its 200-day moving average is $117.60. 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 $196.98 billion, a PE ratio of 20.12, a PEG ratio of 2.22 and a beta of 0.53.

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

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.26%. Philip Morris International's payout ratio is presently 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company's stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

About Philip Morris International

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.