Independent Solutions Wealth Management LLC Sells 410 Shares of Philip Morris International Inc. (NYSE:PM)

Independent Solutions Wealth Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 1.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 22,102 shares of the company’s stock after selling 410 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Philip Morris International were worth $2,683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PM. State Street Corp increased its stake in Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after acquiring an additional 224,840 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC grew its holdings in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after buying an additional 376,406 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM stock traded down $1.33 during midday trading on Thursday, hitting $123.22. The stock had a trading volume of 2,692,628 shares, compared to its average volume of 5,333,141. The business has a 50-day moving average of $127.87 and a two-hundred day moving average of $118.44. The firm has a market cap of $191.59 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping 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 the consensus estimate of $9.68 billion. During the same period in the prior year, the firm earned $1.67 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.38%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of the company’s 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 transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated 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 sale, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PM has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Barclays boosted their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America increased their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group raised their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $131.50.

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.