Philip Morris International Inc. (NYSE:PM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 62.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,227 shares of the company’s stock after selling 20,049 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Philip Morris International were worth $1,484,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. White Lighthouse Investment Management Inc. boosted its stake in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after buying an additional 4,999 shares during the last quarter. Accredited Investors Inc. boosted its position in shares of Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after acquiring an additional 201,294 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of Philip Morris International in the third quarter valued at about $692,000. Finally, Sequoia Financial Advisors LLC increased its position in Philip Morris International by 17.9% during the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after purchasing an additional 4,793 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s 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 sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents 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 hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % 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

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Trading Up 2.4 %

Philip Morris International stock opened at $128.20 on Friday. The stock has a market cap of $199.33 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company has a fifty day simple moving average of $124.19 and a 200-day simple moving average of $113.11. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-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 (EPS) for the quarter, beating 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 firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors 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 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 yield of 4.21%. Philip Morris International’s payout ratio is 85.71%.

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.