Kavar Capital Partners Group LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Kavar Capital Partners Group LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,162 shares of the company’s stock after selling 175 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Philip Morris International were worth $2,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC boosted its stake in Philip Morris International by 1.6% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 30,656 shares of the company’s stock worth $3,722,000 after purchasing an additional 472 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Philip Morris International by 1.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,517,673 shares of the company’s stock worth $305,264,000 after purchasing an additional 26,942 shares during the last quarter. Covenant Partners LLC boosted its stake in Philip Morris International by 5.3% during the 3rd quarter. Covenant Partners LLC now owns 5,043 shares of the company’s stock worth $612,000 after purchasing an additional 253 shares during the last quarter. Benedict Financial Advisors Inc. boosted its stake in Philip Morris International by 2.1% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 71,413 shares of the company’s stock worth $8,670,000 after purchasing an additional 1,443 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Philip Morris International by 2.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 299,018 shares of the company’s stock worth $36,301,000 after purchasing an additional 7,804 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $129.86 on Friday. The firm’s 50-day moving average is $122.50 and its two-hundred day moving average is $109.84. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $133.27. The stock has a market capitalization of $201.87 billion, a P/E ratio of 25.36, a PEG ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. Philip Morris International’s dividend payout ratio is 105.47%.

Analyst Upgrades and Downgrades

PM has been the topic of several recent research reports. Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. 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 research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target 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. Finally, Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.85.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,418 shares of company stock worth $15,247,052 over the last three months. Company insiders own 0.13% of the company’s stock.

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.