Cobblestone Capital Advisors LLC NY Increases Holdings in Philip Morris International Inc. (NYSE:PM)

Cobblestone Capital Advisors LLC NY increased its stake in Philip Morris International Inc. (NYSE:PM) by 9.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,508 shares of the company’s stock after buying an additional 381 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Philip Morris International were worth $547,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PM. FMR LLC grew its position in shares of Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. Bank of New York Mellon Corp increased its position in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Philip Morris International in the second quarter worth $155,373,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after buying an additional 1,165,554 shares during the period. Institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In other 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 value 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 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.9 %

Shares of NYSE PM opened at $133.06 on Monday. The business has a 50-day moving average of $125.74 and a 200-day moving average of $115.99. The firm has a market capitalization of $206.89 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.33 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% 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 quarter in the prior year, the firm earned $1.67 EPS. On average, analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.06%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price 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. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays raised their target price 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International 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.