First Horizon Advisors Inc. Has $26.07 Million Stake in Philip Morris International Inc. (NYSE:PM)

First Horizon Advisors Inc. lifted its stake in Philip Morris International Inc. (NYSE:PM) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 214,734 shares of the company’s stock after purchasing an additional 3,874 shares during the quarter. First Horizon Advisors Inc.’s holdings in Philip Morris International were worth $26,069,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Philip Morris International in the third quarter valued at approximately $28,581,000. Howe & Rusling Inc. increased its holdings in shares of Philip Morris International by 0.3% in the third quarter. Howe & Rusling Inc. now owns 139,128 shares of the company’s stock valued at $16,890,000 after purchasing an additional 383 shares in the last quarter. Hilton Capital Management LLC increased its holdings in shares of Philip Morris International by 68.9% in the third quarter. Hilton Capital Management LLC now owns 5,126 shares of the company’s stock valued at $622,000 after purchasing an additional 2,091 shares in the last quarter. NS Partners Ltd increased its holdings in shares of Philip Morris International by 1.3% in the third quarter. NS Partners Ltd now owns 90,974 shares of the company’s stock valued at $11,044,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Commerce Bank increased its holdings in shares of Philip Morris International by 0.7% in the third quarter. Commerce Bank now owns 195,900 shares of the company’s stock valued at $23,782,000 after purchasing an additional 1,395 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PM shares. Citigroup raised their price target 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. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Barclays raised their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Trading Down 1.7 %

PM stock opened at $129.54 on Wednesday. The stock has a market cap of $201.41 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The stock has a 50-day moving average price of $124.44 and a two-hundred day moving average price of $114.16. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.67 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. 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 dividend yield of 4.17%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

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.