Courier Capital LLC Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Courier Capital LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 3,889 shares of the company’s stock after selling 78 shares during the period. Courier Capital LLC’s holdings in Philip Morris International were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. GQG Partners LLC lifted its holdings in Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after purchasing an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Philip Morris International by 5,045.1% in the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after purchasing an additional 2,081,472 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

PM has been the topic of several analyst reports. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday. Finally, Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Philip Morris International Price Performance

NYSE PM opened at $132.79 on Friday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $132.90. The company has a market cap of $206.43 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.35 and a beta of 0.55. The stock has a 50-day moving average of $121.97 and a two-hundred day moving average of $109.28.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.07%. Philip Morris International’s payout ratio is presently 105.47%.

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.