Cheviot Value Management LLC Sells 190 Shares of Philip Morris International Inc. (NYSE:PM)

Cheviot Value Management LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,819 shares of the company’s stock after selling 190 shares during the period. Cheviot Value Management LLC’s holdings in Philip Morris International were worth $1,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. FMR LLC lifted its holdings in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 valued at $1,341,050,000 after buying an additional 1,856,551 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after buying an additional 736,961 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Philip Morris International by 4.7% in the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock valued at $1,056,957,000 after acquiring an additional 469,806 shares during the period. Finally, Ninety One UK Ltd grew its stake in Philip Morris International by 0.9% during the second quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock valued at $959,368,000 after acquiring an additional 86,667 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Trading Down 0.0 %

PM opened at $133.02 on Monday. The stock has a market capitalization of $206.82 billion, a P/E ratio of 21.12, a PEG ratio of 2.33 and a beta of 0.54. The stock has a 50-day moving average price of $125.74 and a 200-day moving average price of $115.99. 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 released its 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 the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company posted $1.67 EPS. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.06%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays increased their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $131.50.

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.