Alpha Omega Wealth Management LLC Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Alpha Omega Wealth Management LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 8.5% during the third quarter, HoldingsChannel reports. The firm owned 6,835 shares of the company’s stock after selling 634 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Philip Morris International were worth $830,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Longfellow Investment Management Co. LLC raised its stake in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after buying an additional 88 shares during the last quarter. Dearborn Partners LLC raised its position in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares during the last quarter. LRI Investments LLC raised its position in Philip Morris International by 1.5% during the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after acquiring an additional 92 shares during the last quarter. First Financial Bank Trust Division lifted its holdings in shares of Philip Morris International by 3.9% in the third quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock valued at $306,000 after purchasing an additional 95 shares in the last quarter. Finally, Cahill Financial Advisors Inc. grew its position in shares of Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after purchasing an additional 99 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PM shares. Barclays lifted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their target price on Philip Morris International from $110.00 to $125.00 and gave the company 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 eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.45.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was 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 in the company, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was 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 directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $118.35 on Friday. The firm has a market capitalization of $183.98 billion, a PE ratio of 23.12, a P/E/G ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The business has a 50-day moving average of $120.36 and a two-hundred day moving average of $106.28.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating 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 business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, 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 company 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 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 dividend yield of 4.56%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s payout ratio is presently 105.47%.

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.