HBW Advisory Services LLC Sells 2,523 Shares of Philip Morris International Inc. (NYSE:PM)

HBW Advisory Services LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,119 shares of the company’s stock after selling 2,523 shares during the quarter. HBW Advisory Services LLC’s holdings in Philip Morris International were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PM. CIBC Private Wealth Group LLC raised its holdings in Philip Morris International by 3.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 55,501 shares of the company’s stock worth $5,221,000 after purchasing an additional 1,844 shares during the period. Oppenheimer & Co. Inc. increased its position in Philip Morris International by 6.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 70,512 shares of the company’s stock worth $6,634,000 after buying an additional 4,185 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of Philip Morris International by 99.5% in the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after buying an additional 26,960 shares during the period. Exencial Wealth Advisors LLC increased its holdings in Philip Morris International by 15.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 10,263 shares of the company’s stock worth $966,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of Philip Morris International by 1.6% during the 4th quarter. Stephens Inc. AR now owns 51,420 shares of the company’s stock valued at $4,838,000 after purchasing an additional 809 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. Barclays increased their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. The Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. UBS Group upped their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.45.

Philip Morris International Stock Performance

PM stock traded down $0.17 during midday trading on Friday, reaching $118.21. 1,857,718 shares of the company traded hands, compared to its average volume of 5,393,455. The firm has a market capitalization of $183.76 billion, a price-to-earnings ratio of 23.12, a P/E/G 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 has a 50 day moving average of $120.36 and a 200-day moving average of $106.28.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.57%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.