Philip Morris International Inc. (NYSE:PM) Stake Lessened by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,878 shares of the company’s stock after selling 200 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Philip Morris International were worth $231,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Kingsview Wealth Management LLC increased its stake in shares of Philip Morris International by 4.9% in the first quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company’s stock worth $1,253,000 after acquiring an additional 642 shares during the last quarter. Nwam LLC lifted its holdings in shares of Philip Morris International by 3.8% during the 1st quarter. Nwam LLC now owns 5,159 shares of the company’s stock valued at $498,000 after buying an additional 189 shares during the last quarter. Patten & Patten Inc. TN grew its stake in shares of Philip Morris International by 4.8% in the 1st quarter. Patten & Patten Inc. TN now owns 8,351 shares of the company’s stock valued at $765,000 after buying an additional 385 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Philip Morris International by 406.3% in the first quarter. Edgestream Partners L.P. now owns 66,372 shares of the company’s stock worth $6,081,000 after buying an additional 53,262 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in Philip Morris International by 0.7% during the first quarter. Jacobi Capital Management LLC now owns 16,427 shares of the company’s stock valued at $1,505,000 after acquiring an additional 117 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Up 0.3 %

Shares of PM stock traded up $0.39 during mid-day trading on Friday, reaching $128.59. The stock had a trading volume of 9,066,012 shares, compared to its average volume of 5,415,458. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a market cap of $199.94 billion, a PE ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54. The firm’s 50 day simple moving average is $124.30 and its 200 day simple moving average is $113.44.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping 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 firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share 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 issued a $1.35 dividend. The ex-dividend date was Thursday, September 26th. 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 4.20%. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analysts Set New Price Targets

PM has been the topic of several analyst reports. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price target 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. Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, 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 report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $127.85.

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.