Philip Morris International Inc. (NYSE:PM) Shares Sold by Rockland Trust Co.

Rockland Trust Co. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,865 shares of the company’s stock after selling 645 shares during the quarter. Rockland Trust Co.’s holdings in Philip Morris International were worth $2,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Valley Wealth Managers Inc. boosted its stake in Philip Morris International by 457.5% in 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. Dunhill Financial LLC increased its stake in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the period. Darwin Wealth Management LLC acquired a new stake in shares of Philip Morris International in the third quarter worth approximately $54,000. Finally, Reston Wealth Management LLC purchased a new stake in Philip Morris International in the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays cut their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.39.

Philip Morris International Price Performance

Philip Morris International stock opened at $118.41 on Wednesday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market capitalization of $184.11 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. The firm’s fifty day moving average price is $125.80 and its 200 day moving average price is $121.07.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. Analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

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.