Austin Private Wealth LLC Trims Stake in Philip Morris International Inc. (NYSE:PM)

Austin Private Wealth LLC cut its stake in Philip Morris International Inc. (NYSE:PM) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,968 shares of the company’s stock after selling 274 shares during the period. Austin Private Wealth LLC’s holdings in Philip Morris International were worth $360,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in Philip Morris International by 4.8% during the first quarter. Nordea Investment Management AB now owns 76,889 shares of the company’s stock valued at $7,061,000 after buying an additional 3,525 shares during the period. Mediolanum International Funds Ltd bought a new stake in Philip Morris International during the first quarter worth about $8,991,000. TFB Advisors LLC purchased a new stake in Philip Morris International in the first quarter worth about $254,000. Catalina Capital Group LLC bought a new position in shares of Philip Morris International during the first quarter valued at approximately $355,000. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Philip Morris International by 8.6% during the first quarter. Richardson Financial Services Inc. now owns 2,504 shares of the company’s stock valued at $230,000 after purchasing an additional 198 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 1.0 %

PM traded up $1.36 during mid-day trading on Tuesday, reaching $131.69. 268,841 shares of the company traded hands, compared to its average volume of 5,337,575. The company’s fifty day moving average price is $123.88 and its 200-day moving average price is $111.75. The stock has a market capitalization of $204.76 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last posted 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 during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Thursday, September 26th were issued a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective 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. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value 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 approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,418 shares of company stock worth $15,247,052. 0.14% of the stock is owned by company insiders.

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.