Philip Morris International Inc. (NYSE:PM) Shares Sold by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 20.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,574 shares of the company’s stock after selling 664 shares during the period. Whalen Wealth Management Inc.’s holdings in Philip Morris International were worth $312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC boosted its position in Philip Morris International by 8.8% during the third quarter. Caprock Group LLC now owns 45,244 shares of the company’s stock worth $5,554,000 after acquiring an additional 3,669 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Philip Morris International by 5.6% in the third quarter. Meeder Advisory Services Inc. now owns 23,753 shares of the company’s stock valued at $2,884,000 after purchasing an additional 1,263 shares during the period. Drive Wealth Management LLC acquired a new position in Philip Morris International in the third quarter valued at $215,000. Quest Partners LLC lifted its position in Philip Morris International by 233.8% during the third quarter. Quest Partners LLC now owns 21,993 shares of the company’s stock worth $2,670,000 after buying an additional 15,404 shares during the period. Finally, Aljian Capital Management LLC acquired a new stake in Philip Morris International in the 3rd quarter worth about $1,035,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

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 in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research analyst reports. Barclays raised their target price 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. Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Performance

Philip Morris International stock opened at $131.72 on Tuesday. The firm has a market capitalization of $204.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The stock’s 50 day moving average price is $124.39 and its 200 day moving average price is $113.94.

Philip Morris International (NYSE:PM) last posted its 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. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. On average, analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. 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 4.10%. 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.