Philip Morris International Inc. (NYSE:PM) Position Trimmed by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 7.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 9,978 shares of the company’s stock after selling 777 shares during the period. Philip Morris International comprises approximately 0.9% of Cravens & Co Advisors LLC’s portfolio, making the stock its 19th largest holding. Cravens & Co Advisors LLC’s holdings in Philip Morris International were worth $1,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. 49 Wealth Management LLC increased its position in Philip Morris International by 3.6% in the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after buying an additional 84 shares during the period. Woodmont Investment Counsel LLC increased its position in Philip Morris International by 1.6% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after acquiring an additional 86 shares during the period. YHB Investment Advisors Inc. raised its stake in Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its position in Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after acquiring an additional 88 shares during the period. Finally, Dearborn Partners LLC increased its holdings in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PM shares. Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays boosted 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. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Performance

PM stock opened at $132.28 on Wednesday. The stock has a market cap of $205.67 billion, a P/E ratio of 21.00, a P/E/G ratio of 2.29 and a beta of 0.54. The firm has a 50 day simple moving average of $125.04 and a 200 day simple moving average of $115.30. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the business posted $1.67 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts predict that Philip Morris International Inc. will post 6.51 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. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Philip Morris International 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.