Kennebec Savings Bank Invests $692,000 in Philip Morris International Inc. (NYSE:PM)

Kennebec Savings Bank bought a new stake in Philip Morris International Inc. (NYSE:PM) in the 3rd quarter, Holdings Channel.com reports. The fund bought 5,703 shares of the company’s stock, valued at approximately $692,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC increased its stake in shares of Philip Morris International by 1.6% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after buying an additional 86 shares during the period. YHB Investment Advisors Inc. grew its stake in shares of Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC raised its holdings 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 in the last quarter. Dearborn Partners LLC raised its stake in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after acquiring an additional 89 shares during the last quarter. Finally, Cypress Wealth Services LLC boosted its stake in Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PM. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Barclays upped their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Bank of America boosted their price objective 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.85.

Philip Morris International Trading Up 2.0 %

NYSE PM opened at $126.24 on Monday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock has a market cap of $196.28 billion, a PE ratio of 20.04, a P/E/G ratio of 2.21 and a beta of 0.54. The stock’s 50 day moving average is $124.21 and its 200 day moving average is $112.52.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 EPS. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a positive change 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 4.28%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is currently 85.71%.

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.