US Bancorp DE Sells 6,899 Shares of Philip Morris International Inc. (NYSE:PM)

US Bancorp DE lowered its stake in Philip Morris International Inc. (NYSE:PM) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 669,302 shares of the company’s stock after selling 6,899 shares during the quarter. US Bancorp DE’s holdings in Philip Morris International were worth $81,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares during the period. Duality Advisers LP grew its position in shares of Philip Morris International by 165.6% during the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Philip Morris International by 17.9% during the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after purchasing an additional 4,793 shares in the last quarter. Burke & Herbert Bank & Trust Co. grew its position in shares of Philip Morris International by 68.0% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 20,896 shares of the company’s stock worth $2,117,000 after purchasing an additional 8,455 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Philip Morris International by 2.5% during the second quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock worth $29,320,000 after purchasing an additional 7,000 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Massimo Andolina sold 9,000 shares of the firm’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 directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This represents 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 valued at $15,247,052 in the last ninety days. Insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $132.70 on Friday. The firm has a market capitalization of $206.33 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.31 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The business has a 50 day simple moving average of $123.49 and a 200-day simple moving average of $110.88.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $1.67 EPS. As a group, analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.07%. 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. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Barclays increased their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their target price on 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, Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $127.85.

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.