Euro Pacific Asset Management LLC Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

Euro Pacific Asset Management LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 35.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,527 shares of the company’s stock after selling 51,929 shares during the period. Philip Morris International comprises 2.1% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 19th largest holding. Euro Pacific Asset Management LLC’s holdings in Philip Morris International were worth $11,721,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Woodmont Investment Counsel LLC boosted its stake in shares of Philip Morris International by 1.6% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after purchasing an additional 86 shares during the period. YHB Investment Advisors Inc. boosted its position 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 buying an additional 87 shares during the period. Longfellow Investment Management Co. LLC lifted its position in shares of Philip Morris International by 0.7% during the second 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 during the last quarter. Dearborn Partners LLC grew its position in shares of Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its position 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 worth $819,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.3 %

Philip Morris International stock opened at $128.59 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The business’s 50-day moving average price is $124.30 and its 200 day moving average price is $113.44. The firm has a market cap of $199.94 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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 net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PM shares. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. 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 report on Thursday, September 26th. Barclays raised their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’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 transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.