Rockland Trust Co. Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Rockland Trust Co. reduced its position in Philip Morris International Inc. (NYSE:PM) by 3.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,865 shares of the company’s stock after selling 645 shares during the period. Rockland Trust Co.’s holdings in Philip Morris International were worth $2,030,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. grew its position in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares during the period. Concord Wealth Partners grew its holdings in shares of Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Philip Morris International in the 3rd quarter valued at about $54,000. Finally, Reston Wealth Management LLC purchased a new stake in Philip Morris International during the 3rd quarter valued at approximately $58,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at $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 owned by corporate insiders.

Analyst Upgrades and Downgrades

PM has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Citigroup boosted their price objective 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. UBS Group raised their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price objective on shares of 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 given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Trading Up 0.7 %

Shares of PM opened at $118.41 on Wednesday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The firm has a market capitalization of $184.11 billion, a P/E ratio of 18.80, a PEG ratio of 2.22 and a beta of 0.54. The firm’s 50-day moving average is $125.80 and its two-hundred day moving average is $121.07.

Philip Morris International (NYSE:PM) last released its quarterly 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. The business had revenue of $9.91 billion for 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 company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.67 EPS. Analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.56%. Philip Morris International’s dividend payout ratio is presently 85.71%.

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.