Glenmede Trust Co. NA Has $29.07 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Glenmede Trust Co. NA grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 239,459 shares of the company’s stock after acquiring an additional 14,719 shares during the period. Glenmede Trust Co. NA’s holdings in Philip Morris International were worth $29,070,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PM. Iron Horse Wealth Management LLC boosted its holdings in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the last quarter. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Down 0.3 %

NYSE PM opened at $131.82 on Thursday. The stock has a market cap of $204.96 billion, a P/E ratio of 20.92, a PEG ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company’s 50-day simple moving average is $125.26 and its 200 day simple moving average is $115.42.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. Research analysts anticipate 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 dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Insiders Place Their Bets

In other news, 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 in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % 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

PM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Barclays boosted their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Finally, Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $131.50.

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.