Philip Morris International Inc. (NYSE:PM) Shares Sold by CRA Financial Services LLC

CRA Financial Services LLC cut its stake in Philip Morris International Inc. (NYSE:PM) by 11.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,295 shares of the company’s stock after selling 421 shares during the quarter. CRA Financial Services LLC’s holdings in Philip Morris International were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Burns Matteson Capital Management LLC increased its position in shares of Philip Morris International by 29.4% during the 3rd quarter. Burns Matteson Capital Management LLC now owns 5,143 shares of the company’s stock worth $624,000 after purchasing an additional 1,168 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Philip Morris International by 24.8% during the 3rd quarter. Ritholtz Wealth Management now owns 35,701 shares of the company’s stock worth $4,334,000 after purchasing an additional 7,094 shares during the last quarter. Code Waechter LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth about $308,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Philip Morris International by 2.0% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 8,557 shares of the company’s stock worth $1,039,000 after purchasing an additional 170 shares during the last quarter. Finally, Fiduciary Financial Group LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth about $320,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Performance

Shares of PM opened at $120.10 on Friday. The stock has a 50-day simple moving average of $120.84 and a 200-day simple moving average of $107.50. The stock has a market capitalization of $186.73 billion, a PE ratio of 21.26, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. Analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.50%. Philip Morris International’s payout ratio is presently 95.58%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group raised their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $122.41.

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.