Pathstone Holdings LLC Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Pathstone Holdings LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,124 shares of the company’s stock after selling 1,402 shares during the period. Pathstone Holdings LLC’s holdings in Philip Morris International were worth $30,391,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its position in shares of Philip Morris International by 21.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,700 shares of the company’s stock valued at $156,000 after acquiring an additional 300 shares during the last quarter. Covestor Ltd raised its position in shares of Philip Morris International by 119.4% during the 1st quarter. Covestor Ltd now owns 1,051 shares of the company’s stock valued at $96,000 after buying an additional 572 shares during the period. Seven Eight Capital LP raised its position in shares of Philip Morris International by 120.7% during the 1st quarter. Seven Eight Capital LP now owns 8,719 shares of the company’s stock valued at $799,000 after buying an additional 4,768 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Philip Morris International by 45.2% in the first quarter. Lake Street Advisors Group LLC now owns 7,230 shares of the company’s stock valued at $672,000 after acquiring an additional 2,249 shares during the last quarter. Finally, Pitcairn Co. grew its position in Philip Morris International by 2.2% in the first quarter. Pitcairn Co. now owns 29,295 shares of the company’s stock worth $2,684,000 after acquiring an additional 637 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 2.4 %

Philip Morris International stock opened at $131.72 on Tuesday. The company’s 50 day moving average is $124.39 and its two-hundred day moving average is $113.94. The firm has a market cap of $204.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period 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 research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.10%. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PM shares. Barclays upped their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was 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 $12,402,431.64. The trade was a 7.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated 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 transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% 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.