Glenmede Trust Co. NA Acquires 14,719 Shares of Philip Morris International Inc. (NYSE:PM)

Glenmede Trust Co. NA increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 239,459 shares of the company’s stock after purchasing an additional 14,719 shares during the quarter. Glenmede Trust Co. NA’s holdings in Philip Morris International were worth $29,070,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Hancock Whitney Corp raised its position in shares of Philip Morris International by 9.0% during the first quarter. Hancock Whitney Corp now owns 6,374 shares of the company’s stock worth $584,000 after purchasing an additional 525 shares during the period. Community Trust & Investment Co. boosted its holdings in shares of Philip Morris International by 26.9% in the first quarter. Community Trust & Investment Co. now owns 37,508 shares of the company’s stock valued at $3,436,000 after buying an additional 7,960 shares during the period. Cetera Investment Advisers raised its holdings in shares of Philip Morris International by 317.0% during the first quarter. Cetera Investment Advisers now owns 481,323 shares of the company’s stock worth $44,099,000 after acquiring an additional 365,896 shares during the period. Cetera Advisors LLC lifted its position in Philip Morris International by 38.2% in the 1st quarter. Cetera Advisors LLC now owns 174,481 shares of the company’s stock valued at $15,986,000 after acquiring an additional 48,249 shares in the last quarter. Finally, Cetera Advisor Networks LLC boosted its stake in Philip Morris International by 1.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 233,398 shares of the company’s stock worth $21,384,000 after purchasing an additional 4,134 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped 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 report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Price Performance

PM opened at $131.82 on Thursday. The business has a fifty day simple moving average of $125.26 and a 200 day simple moving average of $115.42. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The company has a market capitalization of $204.96 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the company posted $1.67 earnings per share. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share 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. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

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 shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’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 sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.