Crestwood Advisors Group LLC Sells 712 Shares of Philip Morris International Inc. (NYSE:PM)

Crestwood Advisors Group LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,220 shares of the company’s stock after selling 712 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Philip Morris International were worth $2,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its position in shares of Philip Morris International by 4.8% during the 1st quarter. Nordea Investment Management AB now owns 76,889 shares of the company’s stock worth $7,061,000 after buying an additional 3,525 shares during the period. Catalina Capital Group LLC acquired a new position in shares of Philip Morris International during the first quarter valued at about $355,000. Richardson Financial Services Inc. raised its holdings in shares of Philip Morris International by 8.6% during the first quarter. Richardson Financial Services Inc. now owns 2,504 shares of the company’s stock valued at $230,000 after purchasing an additional 198 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Philip Morris International by 16.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 13,926 shares of the company’s stock worth $1,276,000 after purchasing an additional 1,966 shares in the last quarter. Finally, Advisors Capital Management LLC increased its position in Philip Morris International by 7.7% in the 1st quarter. Advisors Capital Management LLC now owns 639,689 shares of the company’s stock valued at $58,608,000 after buying an additional 45,805 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.4 %

Philip Morris International stock opened at $132.19 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company’s 50 day moving average price is $124.07 and its two-hundred day moving average price is $112.02. The stock has a market cap of $205.53 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

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

Insider Activity at Philip Morris International

In other news, 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 transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,418 shares of company stock worth $15,247,052. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PM. UBS Group raised their price objective 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. Barclays upped their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $127.85.

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.