Investment Research & Advisory Group Inc. Sells 300 Shares of Philip Morris International Inc. (NYSE:PM)

Investment Research & Advisory Group Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,684 shares of the company’s stock after selling 300 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Philip Morris International were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its position in Philip Morris International by 0.4% in the third quarter. IFM Investors Pty Ltd now owns 251,741 shares of the company’s stock valued at $30,561,000 after acquiring an additional 1,026 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Philip Morris International by 16.2% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 638 shares of the company’s stock valued at $77,000 after purchasing an additional 89 shares during the last quarter. American Institute for Advanced Investment Management LLP acquired a new position in Philip Morris International during the 3rd quarter worth approximately $213,000. Moody Aldrich Partners LLC lifted its stake in Philip Morris International by 18.9% in the 3rd quarter. Moody Aldrich Partners LLC now owns 3,225 shares of the company’s stock valued at $392,000 after purchasing an additional 513 shares during the last quarter. Finally, Commonwealth Financial Services LLC acquired a new stake in Philip Morris International in the third quarter valued at approximately $223,000. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

PM has been the subject of several research analyst reports. Citigroup upped their price target 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. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Barclays upped their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Philip Morris International Stock Up 1.1 %

PM opened at $132.79 on Friday. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $132.90. The company has a fifty day moving average of $121.97 and a 200-day moving average of $109.28. The stock has a market cap of $206.43 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued 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. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the business posted $1.67 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.07%. Philip Morris International’s payout ratio is 105.47%.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Philip Morris International Company 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.