Burns J W & Co. Inc. NY Has $2.27 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Burns J W & Co. Inc. NY decreased its stake in Philip Morris International Inc. (NYSE:PM) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,677 shares of the company’s stock after selling 730 shares during the period. Burns J W & Co. Inc. NY’s holdings in Philip Morris International were worth $2,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Apella Capital LLC increased its stake in shares of Philip Morris International by 14.7% in the third quarter. Apella Capital LLC now owns 2,963 shares of the company’s stock valued at $354,000 after buying an additional 380 shares during the period. Farmers Trust Co. grew its stake in Philip Morris International by 1.6% during the third quarter. Farmers Trust Co. now owns 43,577 shares of the company’s stock worth $5,290,000 after purchasing an additional 687 shares during the period. Czech National Bank grew its stake in Philip Morris International by 6.9% during the third quarter. Czech National Bank now owns 316,729 shares of the company’s stock worth $38,451,000 after purchasing an additional 20,494 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Philip Morris International by 0.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 39,337 shares of the company’s stock worth $4,776,000 after purchasing an additional 176 shares during the period. Finally, Trust Co. of Toledo NA OH grew its stake in Philip Morris International by 0.6% during the third quarter. Trust Co. of Toledo NA OH now owns 18,187 shares of the company’s stock worth $2,208,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM stock traded up $0.72 during mid-day trading on Friday, hitting $119.10. The company had a trading volume of 4,124,746 shares, compared to its average volume of 5,405,261. The firm has a market cap of $185.15 billion, a PE ratio of 23.26, a price-to-earnings-growth 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 stock’s fifty day moving average price is $120.48 and its two-hundred day moving average price is $106.45.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Equities 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 paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.53%. Philip Morris International’s dividend payout ratio (DPR) is presently 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 dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s 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 completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s 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 transaction, the insider now directly 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.

Analysts Set New Price Targets

PM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Bank of America raised their price objective 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. JPMorgan Chase & Co. raised their price objective 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. Finally, UBS Group raised their price objective on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.45.

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.