Advisors Asset Management Inc. Sells 15,546 Shares of Philip Morris International Inc. (NYSE:PM)

Advisors Asset Management Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 123,461 shares of the company’s stock after selling 15,546 shares during the period. Advisors Asset Management Inc.’s holdings in Philip Morris International were worth $14,988,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. boosted its stake in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $129.54 on Wednesday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The company has a market capitalization of $201.41 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The business has a fifty day moving average price of $124.44 and a two-hundred day moving average price of $114.16.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.17%. 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 is 85.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PM shares. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group increased their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays raised their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.50.

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.