Ascent Group LLC Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Ascent Group LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,335 shares of the company’s stock after selling 10,371 shares during the quarter. Ascent Group LLC’s holdings in Philip Morris International were worth $4,411,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. 49 Wealth Management LLC grew its stake in shares of Philip Morris International by 3.6% during the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after purchasing an additional 84 shares in the last quarter. Woodmont Investment Counsel LLC lifted its holdings in Philip Morris International by 1.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after buying an additional 86 shares during the last quarter. YHB Investment Advisors Inc. boosted its position 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 acquiring an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC increased its holdings in shares of Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in shares of Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.9 %

PM opened at $133.06 on Monday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The business has a 50 day moving average price of $125.74 and a two-hundred day moving average price of $115.99. The company has a market cap of $206.89 billion, a PE ratio of 21.12, a P/E/G ratio of 2.33 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the prior year, the business earned $1.67 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.06%. Philip Morris International’s payout ratio is presently 85.71%.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PM shares. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. 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 report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One investment 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.