TrinityPoint Wealth LLC Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

TrinityPoint Wealth LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,643 shares of the company’s stock after selling 1,469 shares during the period. TrinityPoint Wealth LLC’s holdings in Philip Morris International were worth $1,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Woodmont Investment Counsel LLC increased its stake in shares of Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after buying an additional 86 shares during the period. YHB Investment Advisors Inc. increased its position in Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares during the period. Longfellow Investment Management Co. LLC raised its holdings in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares in the last quarter. Dearborn Partners LLC lifted its position in shares of Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after purchasing an additional 89 shares during the period. Finally, Cypress Wealth Services LLC boosted its stake in shares of Philip Morris International by 1.3% during the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PM shares. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Stock Performance

Shares of PM stock opened at $128.59 on Monday. The company has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.25 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 company’s 50-day moving average is $124.30 and its 200 day moving average is $113.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results 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 analysts’ expectations of $9.68 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders 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 4.20%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the 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 transaction, the chairman now owns 959,761 shares in the company, 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. Corporate insiders own 0.13% 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.