Pin Oak Investment Advisors Inc. Sells 500 Shares of Philip Morris International Inc. (NYSE:PM)

Pin Oak Investment Advisors Inc. decreased its stake in Philip Morris International Inc. (NYSE:PM) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,175 shares of the company’s stock after selling 500 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Philip Morris International were worth $142,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Philip Morris International in the second quarter worth $155,373,000. Finally, Los Angeles Capital Management LLC boosted its stake in Philip Morris International by 14,611.4% during the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after buying an additional 1,165,554 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the 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 sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PM. Barclays upped their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Bank of America boosted their price target on shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Stock Down 0.3 %

Shares of Philip Morris International stock opened at $131.82 on Thursday. The company has a market cap of $204.96 billion, a PE ratio of 20.92, a P/E/G ratio of 2.29 and a beta of 0.54. The business has a 50 day moving average of $125.26 and a 200 day moving average of $115.42. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. On average, 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 firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. Philip Morris International’s dividend 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.