5,194 Philip Morris International Inc. $PM Shares Sold by Private Management Group Inc.

Private Management Group Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 9.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,442 shares of the company’s stock after selling 5,194 shares during the quarter. Private Management Group Inc.’s holdings in Philip Morris International were worth $9,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC boosted its holdings in shares of Philip Morris International by 9.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock worth $118,000 after purchasing an additional 56 shares during the period. Hughes Financial Services LLC increased its holdings in Philip Morris International by 8.4% during the 3rd quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock valued at $150,000 after purchasing an additional 56 shares during the period. Platt Wealth Management LLC increased its holdings in Philip Morris International by 2.1% during the 2nd quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after purchasing an additional 58 shares during the period. Security Financial Services INC. increased its holdings in Philip Morris International by 2.2% during the 3rd quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock valued at $568,000 after purchasing an additional 64 shares during the period. Finally, Shepherd Financial Partners LLC raised its position in Philip Morris International by 4.9% during the 3rd quarter. Shepherd Financial Partners LLC now owns 1,365 shares of the company’s stock valued at $260,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several research analyst reports. UBS Group increased their price objective on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Barclays boosted their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Argus upped their target price on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a report on Monday, October 26th. Citigroup upped their target price on Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Needham & Company LLC raised their price target on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Trading Up 0.6%

Shares of PM opened at $194.31 on Wednesday. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35. The firm’s 50-day moving average price is $195.73 and its 200-day moving average price is $183.05. The firm has a market capitalization of $302.86 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.59 and a beta of 0.34.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. Philip Morris International’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $2.24 earnings per share. On average, research analysts forecast that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, October 2nd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.