D.A. Davidson & CO. Has $11.40 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

D.A. Davidson & CO. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 93,918 shares of the company’s stock after selling 10,226 shares during the quarter. D.A. Davidson & CO.’s holdings in Philip Morris International were worth $11,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Valley Wealth Managers Inc. lifted its stake in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% in the 2nd 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 last quarter. Sachetta LLC raised its holdings in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Concord Wealth Partners lifted its position in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Finally, Fortitude Family Office LLC boosted 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 worth $32,000 after acquiring an additional 116 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Barclays lifted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $132.28 on Wednesday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock has a market capitalization of $205.67 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The company’s 50 day simple moving average is $125.04 and its 200 day simple moving average is $115.30.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.67 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS 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. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase 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 4.08%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 trade represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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.