Plimoth Trust Co. LLC Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Plimoth Trust Co. LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,370 shares of the company’s stock after selling 410 shares during the period. Plimoth Trust Co. LLC’s holdings in Philip Morris International were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GQG Partners LLC boosted its stake in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after acquiring an additional 5,841,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after buying an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Philip Morris International by 5,045.1% in the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after acquiring an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus upped their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, 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 report on Thursday, September 26th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.95.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. 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 through the SEC website. 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 transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Trading Down 1.0 %

NYSE:PM traded down $1.25 on Monday, hitting $118.96. 5,578,065 shares of the company’s stock traded hands, compared to its average volume of 5,322,441. The firm has a 50-day moving average price of $121.35 and a 200-day moving average price of $108.62. The company has a market cap of $184.93 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. 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 firm 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 is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.54%. Philip Morris International’s dividend payout ratio is 105.47%.

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.