Philip Morris International Inc. (NYSE:PM) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 6.3% during the 3rd quarter, Holdings Channel reports. The fund owned 8,978 shares of the company’s stock after selling 600 shares during the quarter. MTM Investment Management LLC’s holdings in Philip Morris International were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Philip Morris International by 1.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 214,734 shares of the company’s stock valued at $26,069,000 after buying an additional 3,874 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Philip Morris International during the third quarter worth $28,581,000. Howe & Rusling Inc. grew its stake in shares of Philip Morris International by 0.3% in the 3rd quarter. Howe & Rusling Inc. now owns 139,128 shares of the company’s stock valued at $16,890,000 after purchasing an additional 383 shares during the period. Hilton Capital Management LLC increased its position in shares of Philip Morris International by 68.9% during the 3rd quarter. Hilton Capital Management LLC now owns 5,126 shares of the company’s stock worth $622,000 after purchasing an additional 2,091 shares in the last quarter. Finally, NS Partners Ltd raised its position in Philip Morris International by 1.3% in the 3rd quarter. NS Partners Ltd now owns 90,974 shares of the company’s stock valued at $11,044,000 after purchasing an additional 1,196 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $129.54 on Wednesday. The firm has a fifty day moving average price of $124.44 and a 200-day moving average price of $114.16. The company has a market cap of $201.41 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly 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. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 EPS. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.17%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

PM has been the topic of several recent research reports. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. UBS Group boosted their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. 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. Finally, Barclays upped their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction 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. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

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.