Philip Morris International Inc. (NYSE:PM) Stock Position Trimmed by Deltec Asset Management LLC

Deltec Asset Management LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,154 shares of the company’s stock after selling 804 shares during the quarter. Philip Morris International comprises approximately 1.2% of Deltec Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Deltec Asset Management LLC’s holdings in Philip Morris International were worth $5,967,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PM. Iron Horse Wealth Management LLC grew its stake in shares of 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 last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the second quarter worth approximately $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Philip Morris International by 57.4% during the 2nd 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. Finally, Olistico Wealth LLC bought a new stake in shares of Philip Morris International during the 2nd quarter worth $34,000. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated 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 owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 118,418 shares of company stock valued at $15,247,052. Insiders own 0.14% of the company’s stock.

Philip Morris International Trading Up 0.8 %

PM stock opened at $131.57 on Wednesday. The firm has a market cap of $204.56 billion, a PE ratio of 20.88, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $133.27. The company has a fifty day simple moving average of $122.99 and a 200 day simple moving average of $110.58.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. As a group, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors 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 4.10%. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PM shares. Barclays upped their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.