Frank Rimerman Advisors LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Frank Rimerman Advisors LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 30,656 shares of the company’s stock after acquiring an additional 472 shares during the period. Frank Rimerman Advisors LLC’s holdings in Philip Morris International were worth $3,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its position in Philip Morris International by 1.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,517,673 shares of the company’s stock valued at $305,264,000 after buying an additional 26,942 shares during the last quarter. Covenant Partners LLC raised its position in Philip Morris International by 5.3% during the 3rd quarter. Covenant Partners LLC now owns 5,043 shares of the company’s stock worth $612,000 after buying an additional 253 shares during the last quarter. Benedict Financial Advisors Inc. lifted its stake in shares of Philip Morris International by 2.1% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 71,413 shares of the company’s stock worth $8,670,000 after acquiring an additional 1,443 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Philip Morris International by 2.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 299,018 shares of the company’s stock valued at $36,301,000 after acquiring an additional 7,804 shares in the last quarter. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of Philip Morris International during the third quarter worth about $220,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 2.2 %

NYSE:PM opened at $129.86 on Friday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $133.27. The stock has a fifty day simple moving average of $122.50 and a 200-day simple moving average of $109.84. The company has a market capitalization of $201.87 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. As a group, equities analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 105.47%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PM. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays upped 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. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s 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 of the company’s stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,418 shares of company stock valued at $15,247,052. Corporate insiders own 0.13% of the company’s stock.

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.