Hartford Investment Management Co. Sells 1,648 Shares of Philip Morris International Inc. (NYSE:PM)

Hartford Investment Management Co. decreased its stake in Philip Morris International Inc. (NYSE:PM) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,950 shares of the company’s stock after selling 1,648 shares during the quarter. Hartford Investment Management Co.’s holdings in Philip Morris International were worth $11,891,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC grew its holdings in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the second quarter worth about $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International in the 2nd quarter worth approximately $34,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Barclays raised their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, UBS Group decreased their price objective on Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Down 1.1 %

Shares of Philip Morris International stock traded down $1.38 during trading on Wednesday, reaching $130.03. 638,929 shares of the company were exchanged, compared to its average volume of 5,344,012. The business has a 50-day moving average price of $121.68 and a 200-day moving average price of $109.12. The firm has a market capitalization of $202.14 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $131.97.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the company earned $1.67 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.15%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

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.