Valicenti Advisory Services Inc. Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Valicenti Advisory Services Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 18.5% in the third quarter, Holdings Channel.com reports. The fund owned 11,215 shares of the company’s stock after selling 2,550 shares during the period. Valicenti Advisory Services Inc.’s holdings in Philip Morris International were worth $1,362,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its position in Philip Morris International by 684.4% in 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 period. Strategic Financial Concepts LLC bought a new stake in Philip Morris International in the 2nd quarter worth approximately $25,000. Sachetta LLC grew its position in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Fortitude Family Office LLC grew its position in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Finally, Olistico Wealth LLC bought a new stake in Philip Morris International in the 2nd quarter worth approximately $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 1.1 %

Shares of NYSE PM opened at $132.79 on Friday. The firm’s 50-day moving average price is $121.97 and its 200-day moving average price is $109.28. The stock has a market capitalization of $206.43 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $132.90.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm 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 9.41% and a negative return on equity of 113.32%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 6.45 EPS 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 given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.07%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of the 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PM. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Stifel Nicolaus reissued 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. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $126.85.

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.