Folger Nolan Fleming Douglas Capital Management Inc. Sells 100 Shares of Philip Morris International Inc. (NYSE:PM)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,037 shares of the company’s stock after selling 100 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Philip Morris International were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. Cornerstone Wealth Group LLC increased its position in Philip Morris International by 450.4% during the third quarter. Cornerstone Wealth Group LLC now owns 38,606 shares of the company’s stock worth $4,687,000 after acquiring an additional 31,592 shares during the period. Oak Harvest Investment Services bought a new position in shares of Philip Morris International during the third quarter worth approximately $208,000. JFS Wealth Advisors LLC increased its holdings in shares of Philip Morris International by 43.0% during the third quarter. JFS Wealth Advisors LLC now owns 4,605 shares of the company’s stock worth $559,000 after purchasing an additional 1,385 shares during the period. SteelPeak Wealth LLC raised its position in shares of Philip Morris International by 556.0% in the third quarter. SteelPeak Wealth LLC now owns 72,038 shares of the company’s stock valued at $8,843,000 after buying an additional 61,057 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Philip Morris International by 3.9% in the third quarter. Pinnacle Associates Ltd. now owns 55,986 shares of the company’s stock valued at $6,797,000 after buying an additional 2,101 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other 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 completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International 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 completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,418 shares of company stock worth $15,247,052. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $132.12 on Thursday. The firm has a market cap of $205.42 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $133.27. The firm’s fifty day moving average is $123.23 and its 200-day moving average is $110.73.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The business’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 EPS. Sell-side analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.09%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Citigroup lifted their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

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.