Concurrent Investment Advisors LLC Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Concurrent Investment Advisors LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,421 shares of the company’s stock after selling 475 shares during the period. Concurrent Investment Advisors LLC’s holdings in Philip Morris International were worth $3,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PM. YHB Investment Advisors Inc. grew its position in shares of Philip Morris International by 4.2% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after acquiring an additional 87 shares in the last quarter. Longfellow Investment Management Co. LLC boosted 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 worth $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC increased its stake 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 purchasing an additional 89 shares during the last quarter. Cypress Wealth Services LLC raised its holdings in shares of Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after purchasing an additional 89 shares during the period. Finally, Luts & Greenleigh Group Inc. lifted its position in shares of Philip Morris International by 1.1% in the 3rd quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after buying an additional 89 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Citigroup increased their target price 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Get Our Latest Analysis on PM

Philip Morris International Stock Performance

Shares of PM opened at $125.31 on Thursday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The stock’s fifty day moving average is $124.13 and its 200-day moving average is $112.11. The firm has a market capitalization of $194.84 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.54.

Philip Morris International (NYSE:PM – Get Free Report) last released its earnings results on Tuesday, October 22nd. The company reported $1.91 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 firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter last year, the company earned $1.67 EPS. Philip Morris International’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.31%. Philip Morris International’s payout ratio is presently 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’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 sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International 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 transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on 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 directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 0.00 % 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 insiders.

Philip Morris International Company Profile

(Free Report)

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.

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