Prospera Private Wealth LLC Sells 2,949 Shares of Philip Morris International Inc. (NYSE:PM)

Prospera Private Wealth LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 21.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,098 shares of the company’s stock after selling 2,949 shares during the quarter. Prospera Private Wealth LLC’s holdings in Philip Morris International were worth $1,347,000 as of its most recent filing with the SEC.

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

Philip Morris International Stock Performance

Shares of PM opened at $129.54 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The stock has a 50 day moving average price of $124.44 and a two-hundred day moving average price of $114.16. The firm has a market capitalization of $201.41 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. On average, equities analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced 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 was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.17%. Philip Morris International’s payout ratio is presently 85.71%.

Insider Activity

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several research analyst reports. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $131.50.

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.