Daymark Wealth Partners LLC Sells 912 Shares of Philip Morris International Inc. (NYSE:PM)

Daymark Wealth Partners LLC trimmed its position in Philip Morris International Inc. (NYSE:PM) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,483 shares of the company’s stock after selling 912 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Philip Morris International were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Jacobi Capital Management LLC lifted its stake in shares of Philip Morris International by 6.9% in the fourth quarter. Jacobi Capital Management LLC now owns 16,310 shares of the company’s stock valued at $1,534,000 after buying an additional 1,057 shares during the period. Nebula Research & Development LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $857,000. Lone Pine Capital LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth approximately $282,785,000. Point72 Hong Kong Ltd bought a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $12,768,000. Finally, Blue Door Asset Management LLC raised its stake in shares of Philip Morris International by 89.4% in the fourth quarter. Blue Door Asset Management LLC now owns 89,000 shares of the company’s stock valued at $8,373,000 after purchasing an additional 42,000 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PM shares. Bank of America lifted 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 report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Barclays increased their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $122.41.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Performance

Shares of PM stock opened at $120.18 on Thursday. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22. The stock has a market capitalization of $186.83 billion, a PE ratio of 23.47, a PEG ratio of 2.37 and a beta of 0.55. The stock’s fifty day moving average is $120.65 and its 200-day moving average is $107.00.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a $1.35 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.49%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

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.