Cullinan Associates Inc. Sells 1,484 Shares of Philip Morris International Inc. (NYSE:PM)

Cullinan Associates Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 3.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 45,250 shares of the company’s stock after selling 1,484 shares during the quarter. Cullinan Associates Inc.’s holdings in Philip Morris International were worth $5,390,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC lifted its stake in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Sachetta LLC raised its stake in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter worth $34,000. Finally, Hobbs Group Advisors LLC purchased a new position in Philip Morris International during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PM. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday. 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 report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Barclays boosted their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price target 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. One 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.85.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM traded down $0.66 during mid-day trading on Friday, reaching $132.14. 333,131 shares of the stock were exchanged, compared to its average volume of 5,350,671. The company has a market capitalization of $205.45 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.57 and a beta of 0.55. The business’s 50 day moving average is $121.97 and its 200-day moving average is $109.28. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $133.27.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.67 EPS. Equities analysts predict that Philip Morris International Inc. will post 6.45 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. This represents a $5.40 annualized dividend and a dividend yield of 4.09%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

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.