Philip Morris International Inc. (NYSE:PM) Shares Sold by True North Advisors LLC

True North Advisors LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,051 shares of the company’s stock after selling 209 shares during the period. True North Advisors LLC’s holdings in Philip Morris International were worth $249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Ossiam grew its position in shares of Philip Morris International by 240.9% during the 4th quarter. Ossiam now owns 13,238 shares of the company’s stock valued at $1,245,000 after acquiring an additional 9,355 shares during the period. MGO One Seven LLC grew its position in shares of Philip Morris International by 0.6% during the 4th quarter. MGO One Seven LLC now owns 31,657 shares of the company’s stock valued at $2,978,000 after acquiring an additional 193 shares during the period. Icon Wealth Advisors LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at about $1,133,000. Jacobi Capital Management LLC grew its position in shares of Philip Morris International by 6.9% during the 4th quarter. Jacobi Capital Management LLC now owns 16,310 shares of the company’s stock valued at $1,534,000 after acquiring an additional 1,057 shares during the period. Finally, Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at about $857,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Down 0.1 %

Shares of NYSE PM opened at $118.80 on Wednesday. The firm has a market cap of $184.68 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The business’s 50 day moving average is $120.65 and its two-hundred day moving average is $107.00.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.55%. Philip Morris International’s payout ratio is 105.47%.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % 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 Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were 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 directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The trade was a 0.00 % 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 recently issued reports on the company. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group lifted their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.41.

About Philip Morris International

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.