Philip Morris International Inc. (NYSE:PM) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in Philip Morris International Inc. (NYSE:PM) by 68.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,554 shares of the company’s stock after selling 435,348 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Philip Morris International were worth $24,833,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. IFM Investors Pty Ltd grew its position in Philip Morris International by 0.4% in the third quarter. IFM Investors Pty Ltd now owns 251,741 shares of the company’s stock worth $30,561,000 after buying an additional 1,026 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Philip Morris International by 16.2% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 638 shares of the company’s stock worth $77,000 after purchasing an additional 89 shares during the period. American Institute for Advanced Investment Management LLP purchased a new stake in shares of Philip Morris International during the third quarter valued at $213,000. Moody Aldrich Partners LLC boosted its position in shares of Philip Morris International by 18.9% in the 3rd quarter. Moody Aldrich Partners LLC now owns 3,225 shares of the company’s stock valued at $392,000 after purchasing an additional 513 shares during the period. Finally, Commonwealth Financial Services LLC purchased a new position in Philip Morris International in the 3rd quarter worth about $223,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $129.86 on Friday. The company has a market capitalization of $201.87 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.57 and a beta of 0.55. The stock’s 50 day moving average price is $122.26 and its 200 day moving average price is $109.44. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $133.27.

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

Philip Morris International Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on PM shares. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $126.85.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have 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.