Wedge Capital Management L L P NC Has $30.79 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Wedge Capital Management L L P NC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 24.4% during the third quarter, HoldingsChannel reports. The firm owned 253,640 shares of the company’s stock after selling 81,797 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Philip Morris International were worth $30,792,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PM. Quarry LP lifted its holdings in shares of Philip Morris International by 307.5% in the fourth quarter. Quarry LP now owns 436 shares of the company’s stock worth $41,000 after buying an additional 329 shares in the last quarter. Integrated Advisors Network LLC lifted its position in Philip Morris International by 5.0% during the fourth quarter. Integrated Advisors Network LLC now owns 10,782 shares of the company’s stock valued at $1,014,000 after purchasing an additional 509 shares in the last quarter. Centaurus Financial Inc. lifted its stake in shares of Philip Morris International by 5.3% during the 4th quarter. Centaurus Financial Inc. now owns 5,332 shares of the company’s stock valued at $502,000 after buying an additional 268 shares in the last quarter. Syon Capital LLC grew its holdings in Philip Morris International by 41.9% during the 4th quarter. Syon Capital LLC now owns 9,407 shares of the company’s stock valued at $885,000 after buying an additional 2,780 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in Philip Morris International by 1.0% during the 4th quarter. EP Wealth Advisors LLC now owns 19,926 shares of the company’s stock valued at $1,875,000 after purchasing an additional 189 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. 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 available through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Down 0.0 %

PM stock traded down $0.06 during mid-day trading on Monday, hitting $120.04. The stock had a trading volume of 598,835 shares, compared to its average volume of 5,335,812. The firm has a market capitalization of $186.61 billion, a P/E ratio of 23.46, a P/E/G ratio of 2.35 and a beta of 0.55. The firm has a fifty day simple moving average of $120.84 and a 200 day simple moving average of $107.61. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed 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 4.50%. This is an increase 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 is 105.47%.

Analyst Ratings Changes

Several research firms have issued reports on PM. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. 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 note on Tuesday, October 1st. The Goldman Sachs Group boosted their price objective 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. Bank of America boosted their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $124.15.

Philip Morris International Company 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.