Spirit of America Management Corp NY Trims Holdings in Philip Morris International Inc. (NYSE:PM)

Spirit of America Management Corp NY reduced its holdings in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 12.7% in the third quarter, HoldingsChannel reports. The fund owned 10,300 shares of the company’s stock after selling 1,500 shares during the period. Spirit of America Management Corp NY’s holdings in Philip Morris International were worth $1,250,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PM. Diversify Advisory Services LLC purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC raised its stake in Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares during the last quarter. Duality Advisers LP boosted its holdings in Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after acquiring an additional 24,093 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in Philip Morris International by 11.5% in the first quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock worth $8,465,000 after acquiring an additional 9,300 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Philip Morris International by 17.9% in the second quarter. Sequoia Financial Advisors LLC now owns 31,591 shares of the company’s stock worth $3,203,000 after acquiring an additional 4,793 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM stock opened at $132.79 on Friday. The company has a market capitalization of $206.43 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $132.90. The business has a 50 day simple moving average of $121.97 and a two-hundred day simple moving average of $109.28.

Philip Morris International (NYSE:PMGet Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 earnings per share. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.07%. 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 105.47%.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the 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 of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of several recent analyst reports. The Goldman Sachs Group increased 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. Barclays lifted their price objective 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 upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Get Our Latest Research Report on Philip Morris International

About Philip Morris International

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PMFree Report).

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.