Linscomb Wealth Inc. Sells 2,493 Shares of Philip Morris International Inc. (NYSE:PM)

Linscomb Wealth Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,919 shares of the company’s stock after selling 2,493 shares during the period. Linscomb Wealth Inc.’s holdings in Philip Morris International were worth $9,581,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PM. GQG Partners LLC increased its holdings in Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after buying an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 79.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after buying an additional 2,599,684 shares during the period. Bank of New York Mellon Corp grew its stake in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Capital Research Global Investors raised its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the period. Finally, Capital World Investors lifted its holdings in Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s 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 directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several research reports. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Barclays upped their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $127.85.

Philip Morris International Price Performance

NYSE:PM traded up $1.78 during mid-day trading on Friday, reaching $129.98. The company’s stock had a trading volume of 1,869,491 shares, compared to its average volume of 5,381,534. The stock has a market cap of $202.10 billion, a P/E ratio of 20.51, a P/E/G ratio of 2.19 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company’s fifty day simple moving average is $124.25 and its two-hundred day simple moving average is $113.21.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. 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. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

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.