Independent Advisor Alliance Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Independent Advisor Alliance lessened its stake in Philip Morris International Inc. (NYSE:PM) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,113 shares of the company’s stock after selling 1,962 shares during the quarter. Independent Advisor Alliance’s holdings in Philip Morris International were worth $7,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PM. Harvest Fund Management Co. Ltd bought a new stake in Philip Morris International in the 3rd quarter worth about $356,000. Douglass Winthrop Advisors LLC increased its holdings in Philip Morris International by 15.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 24,834 shares of the company’s stock worth $3,015,000 after buying an additional 3,332 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Philip Morris International by 19.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 322,963 shares of the company’s stock worth $39,208,000 after buying an additional 52,692 shares in the last quarter. Hartford Funds Management Co LLC increased its holdings in Philip Morris International by 2.1% in the 3rd quarter. Hartford Funds Management Co LLC now owns 9,971 shares of the company’s stock worth $1,211,000 after buying an additional 206 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. increased its holdings in Philip Morris International by 1.3% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 29,281 shares of the company’s stock worth $3,555,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PM shares. UBS Group lifted 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. Citigroup boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group boosted their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 959,761 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Philip Morris International Stock Down 0.9 %

PM stock opened at $129.99 on Monday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $202.11 billion, a P/E ratio of 20.63, a PEG ratio of 2.28 and a beta of 0.54. The business’s 50-day moving average price is $124.77 and its 200-day moving average price is $114.85.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the firm earned $1.67 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date 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 4.15%. Philip Morris International’s payout ratio is currently 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.