Philip Morris International Inc. (NYSE:PM) Stake Trimmed by Wrapmanager Inc.

Wrapmanager Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 7.9% during the third quarter, HoldingsChannel reports. The firm owned 13,978 shares of the company’s stock after selling 1,194 shares during the period. Wrapmanager Inc.’s holdings in Philip Morris International were worth $1,697,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital World Investors lifted its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares during the last quarter. Capital Research Global Investors lifted its holdings in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after purchasing an additional 736,961 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after purchasing an additional 469,806 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.4 %

PM opened at $131.72 on Tuesday. The stock’s 50 day simple moving average is $124.39 and its 200-day simple moving average is $113.94. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a market cap of $204.80 billion, a PE ratio of 20.91, a P/E/G ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Equities 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 business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. 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 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PM shares. 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. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.50.

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.