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

True North Advisors LLC cut its holdings in Philip Morris International Inc. (NYSE:PM) by 9.2% during the 3rd quarter, Holdings Channel reports. 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 reporting period.

A number of other hedge funds have also recently bought and sold shares of PM. Diversify Advisory Services LLC purchased a new position in Philip Morris International during the first quarter worth approximately $5,634,000. Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after acquiring an additional 6,974 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Philip Morris International in the 4th quarter valued at $857,000. Duality Advisers LP raised its stake in shares of Philip Morris International by 165.6% in the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after acquiring an additional 24,093 shares during the period. Finally, Farmers Trust Co. raised its stake in shares of Philip Morris International by 425.3% in the 1st quarter. Farmers Trust Co. now owns 33,187 shares of the company’s stock valued at $3,041,000 after acquiring an additional 26,869 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PM. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price target 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. Deutsche Bank Aktiengesellschaft raised 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, October 1st. Finally, Citigroup raised their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.41.

Philip Morris International Stock Down 0.1 %

PM stock opened at $118.80 on Wednesday. The company has a 50 day moving average of $120.65 and a two-hundred day moving average of $107.00. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The company 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 (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

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

Philip Morris International Company 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.