Philip Morris International Inc. (NYSE:PM) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,729 shares of the company’s stock after selling 923 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Philip Morris International were worth $3,730,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on PM shares. Bank of America boosted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group increased their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays increased their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus reissued 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were 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 directly owns 85,629 shares of the company’s stock, 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 at the SEC website. In other news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,418 shares of company stock worth $15,247,052. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock opened at $129.86 on Friday. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $133.27. The stock 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. The firm has a 50 day simple moving average of $122.50 and a 200-day simple moving average of $109.84.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the company posted $1.67 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. On average, 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 firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Philip Morris International Company 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.