Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 5,942 Shares of Philip Morris International Inc. (NYSE:PM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in Philip Morris International Inc. (NYSE:PM) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 500,465 shares of the company’s stock after selling 5,942 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Philip Morris International were worth $66,462,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares in the last quarter. Capital World Investors increased its stake in shares of Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors raised its position in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of Philip Morris International by 7.4% during the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after acquiring an additional 736,961 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. UBS Group upped their target price 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. Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.85.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.03 during trading hours on Wednesday, hitting $131.60. The company’s stock had a trading volume of 157,724 shares, compared to its average volume of 5,344,421. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $133.27. The company has a market capitalization of $204.62 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. The stock has a 50 day moving average of $122.99 and a 200 day moving average of $110.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the firm posted $1.67 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were 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 owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 118,418 shares of company stock worth $15,247,052. 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.