Philip Morris International Inc. (NYSE:PM) Stock Holdings Lessened by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 6.8% during the third quarter, Holdings Channel.com reports. The firm owned 133,977 shares of the company’s stock after selling 9,799 shares during the quarter. Philip Morris International makes up 6.4% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 7th largest position. Investment Management Associates Inc. ADV’s holdings in Philip Morris International were worth $16,265,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC raised its holdings in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC grew its position in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Concord Wealth Partners lifted its stake in shares of Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the last quarter. Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’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 transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade 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 accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on PM shares. Bank of America upped their price objective 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. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $127.85.

Philip Morris International Stock Down 1.0 %

Philip Morris International stock opened at $124.99 on Tuesday. The company has a market capitalization of $194.34 billion, a PE ratio of 20.04, a PEG ratio of 2.21 and a beta of 0.54. The firm’s fifty day moving average is $124.21 and its 200 day moving average is $112.61. 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 posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during 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 was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.67 EPS. Sell-side analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.32%. Philip Morris International’s dividend payout ratio is 85.71%.

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.