North Star Investment Management Corp. Sells 1,770 Shares of Philip Morris International Inc. (NYSE:PM)

North Star Investment Management Corp. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,359 shares of the company’s stock after selling 1,770 shares during the quarter. North Star Investment Management Corp.’s holdings in Philip Morris International were worth $1,166,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Philip Morris International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 125,492,442 shares of the company’s stock worth $9,854,922,000 after acquiring an additional 1,295,745 shares during the last quarter. BlackRock Inc. boosted its holdings in Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after acquiring an additional 4,879,296 shares during the last quarter. Morgan Stanley boosted its holdings in Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after acquiring an additional 4,998,070 shares during the last quarter. Invesco Ltd. boosted its holdings in Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock worth $2,362,224,000 after acquiring an additional 8,824,567 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,736,970 shares of the company’s stock worth $1,314,354,000 after acquiring an additional 358,545 shares during the last quarter. Institutional investors and hedge funds own 74.11% of the company’s stock.

A number of equities analysts have issued reports on PM shares. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the stock a “sell” rating in a report on Wednesday, August 28th. Bank of America raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Finally, Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Hold” and an average target price of $93.92.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Shares of NYSE:PM traded up $0.92 during midday trading on Friday, reaching $77.69. The company had a trading volume of 2,062,537 shares, compared to its average volume of 8,287,736. The company’s 50 day moving average price is $75.91 and its 200 day moving average price is $81.60. The stock has a market cap of $121.09 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.90 and a beta of 1.00. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be issued a $1.17 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Tuesday, September 24th. Philip Morris International’s payout ratio is 91.76%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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