Ipswich Investment Management Co. Inc. Has $1.01 Million Position in Philip Morris International Inc. (NYSE:PM)

Ipswich Investment Management Co. Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 16.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,280 shares of the company’s stock after selling 1,600 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Philip Morris International were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Woodmont Investment Counsel LLC boosted its stake in Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after acquiring an additional 86 shares in the last quarter. YHB Investment Advisors Inc. raised its holdings in shares of Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares during the period. Longfellow Investment Management Co. LLC boosted its position in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares in the last quarter. Dearborn Partners LLC grew its stake in shares of Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares during the period. Finally, Cypress Wealth Services LLC grew its stake in shares of Philip Morris International by 1.3% in the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PM. Barclays increased their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $127.85.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value 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 7.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’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 sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Trading Up 0.3 %

Philip Morris International stock opened at $128.59 on Friday. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.19 and a beta of 0.54. The firm has a 50 day simple moving average of $124.30 and a 200 day simple moving average of $113.44. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate 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%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 earnings per share. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.20%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

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.