D.A. Davidson & CO. Sells 10,226 Shares of Philip Morris International Inc. (NYSE:PM)

D.A. Davidson & CO. lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,918 shares of the company’s stock after selling 10,226 shares during the quarter. D.A. Davidson & CO.’s holdings in Philip Morris International were worth $11,402,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. FMR LLC raised its position in Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Qsemble Capital Management LP increased its stake in shares of Philip Morris International by 203.4% in the 3rd quarter. Qsemble Capital Management LP now owns 47,966 shares of the company’s stock valued at $5,823,000 after buying an additional 32,159 shares during the period. Bank of Montreal Can increased its stake in shares of Philip Morris International by 44.0% in the 3rd quarter. Bank of Montreal Can now owns 3,170,549 shares of the company’s stock valued at $382,432,000 after buying an additional 969,198 shares during the period. Associated Banc Corp lifted its stake in shares of Philip Morris International by 1.1% during the third quarter. Associated Banc Corp now owns 537,335 shares of the company’s stock valued at $65,232,000 after acquiring an additional 5,759 shares during the period. Finally, Private Trust Co. NA boosted its holdings in Philip Morris International by 8.0% in the third quarter. Private Trust Co. NA now owns 29,521 shares of the company’s stock valued at $3,584,000 after acquiring an additional 2,175 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PM. Barclays upped their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $132.28 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company’s 50 day moving average price is $125.04 and its two-hundred day moving average price is $115.30. The company has a market capitalization of $205.67 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.