Courier Capital LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Courier Capital LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,889 shares of the company’s stock after selling 78 shares during the quarter. Courier Capital LLC’s holdings in Philip Morris International were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Greenleaf Trust raised its position in shares of Philip Morris International by 5.2% in the 3rd quarter. Greenleaf Trust now owns 32,564 shares of the company’s stock valued at $3,953,000 after purchasing an additional 1,604 shares during the last quarter. Plan Group Financial LLC raised its position in shares of Philip Morris International by 20.9% in the 3rd quarter. Plan Group Financial LLC now owns 11,726 shares of the company’s stock valued at $1,424,000 after purchasing an additional 2,028 shares during the last quarter. Elevated Capital Advisors LLC raised its position in shares of Philip Morris International by 6.1% in the 3rd quarter. Elevated Capital Advisors LLC now owns 12,218 shares of the company’s stock valued at $1,483,000 after purchasing an additional 706 shares during the last quarter. GAM Holding AG purchased a new position in shares of Philip Morris International in the 3rd quarter valued at approximately $1,235,000. Finally, Private Advisor Group LLC raised its position in shares of Philip Morris International by 6.9% in the 3rd quarter. Private Advisor Group LLC now owns 83,214 shares of the company’s stock valued at $10,102,000 after purchasing an additional 5,360 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on 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 of the company’s stock, valued at approximately $9,877,305.15. This trade 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 the SEC website. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup increased their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barclays increased their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Price Performance

Shares of NYSE PM opened at $132.79 on Friday. The stock has a market capitalization of $206.43 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $132.90. The firm’s 50 day simple moving average is $121.97 and its 200-day simple moving average is $109.28.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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 analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. Analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal 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 paid a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.07%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Philip Morris International 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.