Coho Partners Ltd. Lowers Stock Position in Philip Morris International Inc. (NYSE:PM)

Coho Partners Ltd. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 627,117 shares of the company’s stock after selling 94,153 shares during the period. Philip Morris International comprises 2.8% of Coho Partners Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Coho Partners Ltd.’s holdings in Philip Morris International were worth $76,132,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PM. Iron Horse Wealth Management LLC lifted its holdings in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International during the second quarter valued at about $25,000. Sachetta LLC increased its position in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PM shares. Citigroup lifted 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 note on Tuesday, October 8th. Bank of America raised their price objective 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. Barclays lifted their target price 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.85.

Philip Morris International Trading Down 0.0 %

Shares of NYSE PM opened at $131.39 on Thursday. The firm has a 50-day moving average of $121.97 and a two-hundred day moving average of $109.28. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $131.97. The company has a market capitalization of $204.25 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.11%. 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 105.47%.

Insider Buying and Selling

In other Philip Morris International 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 transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

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.