Davis R M Inc. Sells 192 Shares of Philip Morris International Inc. (NYSE:PM)

Davis R M Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,507 shares of the company’s stock after selling 192 shares during the quarter. Davis R M Inc.’s holdings in Philip Morris International were worth $669,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in Philip Morris International by 57.2% during 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 acquiring an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Philip Morris International by 16.3% during the 2nd 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 in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Philip Morris International in the second quarter valued at $155,373,000. Los Angeles Capital Management LLC increased its holdings in Philip Morris International by 14,611.4% during the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after buying an additional 1,165,554 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Philip Morris International by 52.0% in the 2nd quarter. Raymond James & Associates now owns 3,296,626 shares of the company’s stock valued at $334,047,000 after purchasing an additional 1,127,286 shares during the period. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PM. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Activity

In other Philip Morris International news, 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 transaction of $13,234,052.30. Following the sale, the chairman now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Up 0.5 %

Shares of NYSE:PM opened at $130.70 on Tuesday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company’s 50 day moving average price is $124.86 and its two-hundred day moving average price is $115.07. The firm has a market cap of $203.22 billion, a PE ratio of 20.75, a PEG ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 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 company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter last year, the business earned $1.67 earnings per share. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

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.