Philip Morris International Inc. (NYSE:PM) Stock Position Lessened by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,517 shares of the company’s stock after selling 108 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Philip Morris International were worth $309,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Iron Horse Wealth Management LLC lifted its holdings in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at $25,000. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at $34,000. Institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was 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 owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group reduced their target price on Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group upped their price target 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. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.95.

Philip Morris International Trading Down 0.4 %

PM stock traded down $0.59 during mid-day trading on Wednesday, hitting $130.82. The stock had a trading volume of 2,009,505 shares, compared to its average volume of 5,350,698. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $131.97. The company has a fifty day moving average of $121.68 and a 200 day moving average of $109.12. The stock has a market capitalization of $203.37 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.67 EPS. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. 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 dividend on an annualized basis and a dividend yield of 4.13%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Philip Morris International 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.