Philip Morris International Inc. (NYSE:PM) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,855 shares of the company’s stock after selling 412 shares during the period. MidWestOne Financial Group Inc.’s holdings in Philip Morris International were worth $1,561,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brophy Wealth Management LLC acquired a new stake in shares of Philip Morris International during the third quarter worth about $203,000. Vestcor Inc increased its position in Philip Morris International by 1.6% during the third quarter. Vestcor Inc now owns 65,882 shares of the company’s stock worth $7,998,000 after buying an additional 1,061 shares during the period. Executive Wealth Management LLC purchased a new stake in Philip Morris International in the third quarter valued at approximately $508,000. Adalta Capital Management LLC boosted its holdings in shares of Philip Morris International by 82.2% in the third quarter. Adalta Capital Management LLC now owns 3,990 shares of the company’s stock valued at $490,000 after acquiring an additional 1,800 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Philip Morris International by 5.9% during the third quarter. Continuum Advisory LLC now owns 11,036 shares of the company’s stock worth $1,415,000 after acquiring an additional 614 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 1.4 %

NYSE:PM opened at $128.71 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The firm’s fifty day simple moving average is $126.86 and its 200-day simple moving average is $117.27. The stock has a market cap of $200.12 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53.

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, beating analysts’ consensus estimates 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 net margin of 10.35% and a negative return on equity of 117.94%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PM shares. Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group boosted their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Buying and Selling at Philip Morris International

In other 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 completion of the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.