Philip Morris International Inc. (NYSE:PM) Shares Sold by Charles Schwab Trust Co

Charles Schwab Trust Co cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,711 shares of the company’s stock after selling 408 shares during the quarter. Charles Schwab Trust Co’s holdings in Philip Morris International were worth $451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PM. Longfellow Investment Management Co. LLC boosted its holdings in shares of Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares during the period. Dearborn Partners LLC increased its holdings in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the period. Cypress Wealth Services LLC lifted its holdings in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after purchasing an additional 89 shares during the period. LRI Investments LLC increased its stake in Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after buying an additional 92 shares during the period. Finally, First Financial Bank Trust Division raised its position in shares of Philip Morris International by 3.9% during the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock worth $306,000 after buying an additional 95 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.01 during midday trading on Friday, reaching $119.38. 766,173 shares of the company traded hands, compared to its average volume of 5,350,396. The firm has a market capitalization of $185.61 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The business has a 50 day moving average of $120.79 and a two-hundred day moving average of $107.18. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost 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 4.52%. Philip Morris International’s payout ratio is currently 95.58%.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PM has been the subject of several recent analyst reports. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus increased their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup increased their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $122.41.

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.