Coronation Fund Managers Ltd. Has $17.67 Million Position in Philip Morris International Inc. (NYSE:PM)

Coronation Fund Managers Ltd. lessened its position in Philip Morris International Inc. (NYSE:PM) by 58.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,538 shares of the company’s stock after selling 202,401 shares during the period. Coronation Fund Managers Ltd.’s holdings in Philip Morris International were worth $17,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Iron Horse Wealth Management LLC increased its stake in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the period. Sachetta LLC increased its stake in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares during the period. Concord Wealth Partners increased its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the period. Fortitude Family Office LLC increased its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the period. Finally, Olistico Wealth LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at about $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of several research analyst reports. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Barclays upped their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 118,418 shares of company stock worth $15,247,052. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Trading Down 1.5 %

Shares of PM opened at $130.65 on Friday. The company has a market capitalization of $203.14 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 2.32 and a beta of 0.54. The stock has a 50 day moving average of $123.70 and a 200 day moving average of $111.32. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last released its earnings results 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. 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 the consensus estimate of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts predict 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 announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Philip Morris International Company 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.