Oppenheimer Asset Management Inc. Trims Position in Philip Morris International Inc. (NYSE:PM)

Oppenheimer Asset Management Inc. lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,087 shares of the company’s stock after selling 23,759 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Philip Morris International were worth $30,725,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. White Lighthouse Investment Management Inc. boosted its stake in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after buying an additional 4,999 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Philip Morris International in the 3rd quarter valued at about $692,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Philip Morris International by 17.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock valued at $3,203,000 after buying an additional 4,793 shares during the period. Finally, Burke & Herbert Bank & Trust Co. raised its holdings in Philip Morris International by 68.0% in the 2nd 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 during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. Barclays increased their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group raised 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. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were 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. The trade was 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 available at this hyperlink. In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Philip Morris International Stock Up 0.7 %

Philip Morris International stock traded up $0.86 during mid-day trading on Wednesday, reaching $125.08. The company had a trading volume of 667,602 shares, compared to its average volume of 5,371,521. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company has a 50 day moving average of $124.21 and a 200-day moving average of $113.02. The firm has a market cap of $194.48 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 2.19 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 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter last year, the company posted $1.67 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc. will post 6.51 earnings per share 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. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 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.