Philip Morris International Inc. (NYSE:PM) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,240 shares of the company’s stock after selling 3,648 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in Philip Morris International were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PM. White Lighthouse Investment Management Inc. boosted its position in shares of Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after buying an additional 4,999 shares during the period. Accredited Investors Inc. lifted its position in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Kennebec Savings Bank purchased a new position in Philip Morris International in the 3rd quarter worth approximately $692,000. Swiss National Bank grew its position in Philip Morris International by 0.4% in the third quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 16.9% during the third quarter. Axxcess Wealth Management LLC now owns 40,377 shares of the company’s stock valued at $4,902,000 after purchasing an additional 5,846 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Philip Morris International Trading Down 0.9 %

PM stock opened at $129.99 on Monday. The stock’s 50 day simple moving average is $124.77 and its 200 day simple moving average is $114.85. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a market cap of $202.11 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.28 and a beta of 0.54.

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

Philip Morris International Increases Dividend

The business also recently declared 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 represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost 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 85.71%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PM. Barclays upped their target price 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. Citigroup raised 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. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Bank of America increased their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.