Philip Morris International Inc. (NYSE:PM) Shares Sold by Veracity Capital LLC

Veracity Capital LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 7.9% during the third quarter, HoldingsChannel reports. The fund owned 21,845 shares of the company’s stock after selling 1,881 shares during the period. Philip Morris International accounts for about 1.0% of Veracity Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Veracity Capital LLC’s holdings in Philip Morris International were worth $2,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PM. Longfellow Investment Management Co. LLC grew its holdings in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after buying an additional 88 shares during the period. Dearborn Partners LLC boosted its position in shares of Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares during the last quarter. Cypress Wealth Services LLC boosted its position in shares of Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after acquiring an additional 89 shares during the last quarter. Luts & Greenleigh Group Inc. grew its holdings in Philip Morris International by 1.1% in the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock valued at $1,026,000 after purchasing an additional 89 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC increased its position in Philip Morris International by 1.1% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,180 shares of the company’s stock worth $993,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PM. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays lifted their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.95.

Philip Morris International Stock Performance

Philip Morris International stock opened at $120.21 on Friday. The firm has a market capitalization of $186.87 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The stock’s 50 day moving average price is $121.35 and its 200 day moving average price is $108.50.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.45 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. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This is a boost 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 dividend yield of 4.49%. Philip Morris International’s payout ratio is 105.47%.

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.