Valley National Advisers Inc. Has $787,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Valley National Advisers Inc. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,483 shares of the company’s stock after selling 649 shares during the quarter. Valley National Advisers Inc.’s holdings in Philip Morris International were worth $787,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC lifted its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC lifted its position in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $42,000. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred on 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 directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock worth $15,247,052 over the last three months. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Trading Down 2.2 %

Shares of PM opened at $129.86 on Monday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $133.27. The firm has a market capitalization of $201.87 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.57 and a beta of 0.55. The firm’s 50-day moving average price is $122.50 and its 200-day moving average price is $109.99.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. On average, research analysts forecast that Philip Morris International Inc. will post 6.45 EPS 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. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend 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 dividend yield of 4.16%. Philip Morris International’s payout ratio is currently 105.47%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Bank of America lifted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, UBS Group lifted their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus 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.