Philip Morris International Inc. (NYSE:PM) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 28.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,240 shares of the company’s stock after selling 3,648 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in Philip Morris International were worth $1,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. lifted its holdings in shares of Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after buying an additional 4,999 shares during the period. Accredited Investors Inc. raised its position in Philip Morris International by 3,553.3% in the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Philip Morris International in the 3rd quarter valued at about $692,000. Swiss National Bank boosted its position in shares of Philip Morris International by 0.4% during the 3rd quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after purchasing an additional 17,700 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of Philip Morris International by 16.9% in the 3rd quarter. Axxcess Wealth Management LLC now owns 40,377 shares of the company’s stock worth $4,902,000 after purchasing an additional 5,846 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group increased their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. 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 research report on Tuesday, October 1st. Finally, Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.50.

Philip Morris International Trading Down 0.9 %

Shares of NYSE PM opened at $129.99 on Monday. The firm has a market capitalization of $202.11 billion, a PE ratio of 20.63, a PEG ratio of 2.28 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The business has a 50-day moving average price of $124.77 and a two-hundred day moving average price of $114.85.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating 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 firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Insider Activity 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 dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated 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 approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% 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.