Philip Morris International Inc. (NYSE:PM) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its stake in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,661 shares of the company’s stock after selling 50,016 shares during the quarter. Philip Morris International accounts for 0.9% of Martingale Asset Management L P’s portfolio, making the stock its 23rd largest holding. Martingale Asset Management L P’s holdings in Philip Morris International were worth $37,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. White Lighthouse Investment Management Inc. raised its holdings in shares of Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after acquiring an additional 4,999 shares in the last quarter. Accredited Investors Inc. raised its holdings in Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after buying an additional 201,294 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Philip Morris International in the third quarter valued at approximately $692,000. Swiss National Bank boosted its holdings in Philip Morris International by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after purchasing an additional 17,700 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its stake in shares of Philip Morris International by 68.8% in the third quarter. Horizon Kinetics Asset Management LLC now owns 38,344 shares of the company’s stock valued at $4,655,000 after buying an additional 15,630 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 0.3 %

Shares of NYSE PM opened at $131.82 on Friday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company has a market cap of $204.96 billion, a PE ratio of 20.92, a P/E/G ratio of 2.31 and a beta of 0.54. The company has a 50-day moving average of $125.50 and a two-hundred day moving average of $115.53.

Philip Morris International (NYSE:PMGet Free Report) 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. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction 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 sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % 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 research reports. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. 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. Barclays boosted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Check Out Our Latest Stock Report on PM

Philip Morris International Profile

(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.

Read More

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.