Philip Morris International Inc. (NYSE:PM) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 15.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,637 shares of the company’s stock after selling 12,358 shares during the quarter. MAI Capital Management’s holdings in Philip Morris International were worth $7,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital World Investors raised its stake in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors boosted its holdings in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Philip Morris International by 16.3% during 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 acquiring an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after buying an additional 736,961 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after acquiring an additional 469,806 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated 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 represents a 7.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Trading Up 2.4 %

NYSE PM opened at $131.72 on Tuesday. The stock has a market cap of $204.80 billion, a P/E ratio of 20.91, a PEG ratio of 2.25 and a beta of 0.54. The company’s fifty day simple moving average is $124.39 and its 200-day simple moving average is $113.94. 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 released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the firm posted $1.67 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company 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. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays upped 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 report on Wednesday, October 30th. Bank of America lifted 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $131.50.

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.