Philip Morris International Inc. (NYSE:PM) Shares Sold by Bank of Hawaii

Bank of Hawaii decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,953 shares of the company’s stock after selling 428 shares during the quarter. Bank of Hawaii’s holdings in Philip Morris International were worth $965,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PM. Douglass Winthrop Advisors LLC boosted its holdings in Philip Morris International by 15.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 24,834 shares of the company’s stock valued at $3,015,000 after purchasing an additional 3,332 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Philip Morris International by 19.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 322,963 shares of the company’s stock valued at $39,208,000 after buying an additional 52,692 shares during the period. Hartford Funds Management Co LLC lifted its holdings in Philip Morris International by 2.1% in the third quarter. Hartford Funds Management Co LLC now owns 9,971 shares of the company’s stock valued at $1,211,000 after acquiring an additional 206 shares during the last quarter. Pekin Hardy Strauss Inc. grew its position in Philip Morris International by 1.3% in the third quarter. Pekin Hardy Strauss Inc. now owns 29,281 shares of the company’s stock worth $3,555,000 after acquiring an additional 368 shares during the period. Finally, Cahill Financial Advisors Inc. increased its stake in Philip Morris International by 32.9% during the third quarter. Cahill Financial Advisors Inc. now owns 3,048 shares of the company’s stock worth $370,000 after acquiring an additional 754 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $129.99 on Monday. The business has a 50-day simple moving average of $124.77 and a 200-day simple moving average of $114.85. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The company has a market cap of $202.11 billion, a PE ratio of 20.63, a P/E/G ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.67 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Activity

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated 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 sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Werner Barth sold 7,500 shares of the company’s 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 directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Citigroup upped their price target 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of 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 boosted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

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.