Altrius Capital Management Inc Sells 741 Shares of Philip Morris International Inc. (NYSE:PM)

Altrius Capital Management Inc lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,882 shares of the company’s stock after selling 741 shares during the quarter. Philip Morris International accounts for about 1.5% of Altrius Capital Management Inc’s investment portfolio, making the stock its 26th largest position. Altrius Capital Management Inc’s holdings in Philip Morris International were worth $5,934,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PM. Iron Horse Wealth Management LLC lifted its holdings in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International in the second quarter worth about $25,000. Sachetta LLC raised its holdings in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Finally, Fortitude Family Office LLC increased 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 acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock traded up $1.78 during mid-day trading on Friday, hitting $129.98. 1,869,491 shares of the stock traded hands, compared to its average volume of 5,381,534. The firm has a market cap of $202.10 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company’s 50-day simple moving average is $124.25 and its 200-day simple moving average is $113.21. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly 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. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.15%. Philip Morris International’s dividend payout ratio is 85.71%.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on 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 owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price 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. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, UBS Group boosted their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. 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 stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

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.