Capital Investment Advisors LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Capital Investment Advisors LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,172 shares of the company’s stock after selling 580 shares during the quarter. Capital Investment Advisors LLC’s holdings in Philip Morris International were worth $8,640,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PM. RFG Advisory LLC raised its stake in shares of Philip Morris International by 3.1% in the first quarter. RFG Advisory LLC now owns 14,080 shares of the company’s stock valued at $1,290,000 after acquiring an additional 421 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Philip Morris International by 5.1% in the 1st quarter. Gulf International Bank UK Ltd now owns 10,001 shares of the company’s stock valued at $916,000 after buying an additional 489 shares during the period. Rockland Trust Co. boosted its stake in shares of Philip Morris International by 0.8% in the 1st quarter. Rockland Trust Co. now owns 17,722 shares of the company’s stock valued at $1,624,000 after buying an additional 139 shares during the period. MJP Associates Inc. ADV grew its position in shares of Philip Morris International by 38.8% during the first quarter. MJP Associates Inc. ADV now owns 4,218 shares of the company’s stock worth $386,000 after buying an additional 1,178 shares in the last quarter. Finally, &PARTNERS increased its stake in shares of Philip Morris International by 86.4% during the first quarter. &PARTNERS now owns 5,792 shares of the company’s stock worth $515,000 after buying an additional 2,684 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PM has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. UBS Group decreased their price target on Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a report on Tuesday. Finally, Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.95.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $120.20 on Friday. The company’s fifty day moving average is $121.35 and its two-hundred day moving average is $108.38. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company has a market capitalization of $186.86 billion, a P/E ratio of 23.48, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. As a group, equities analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current 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 dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.49%. The ex-dividend date was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 105.47%.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.