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:PM) 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: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. 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.

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.