Ashton Thomas Private Wealth LLC Sells 562 Shares of Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Ashton Thomas Private Wealth LLC trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 4.4% in the third quarter, Holdings Channel.com reports. The fund owned 12,349 shares of the company’s stock after selling 562 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Philip Morris International were worth $1,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of Philip Morris International by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 260,370 shares of the company’s stock worth $23,857,000 after buying an additional 20,108 shares during the period. Koshinski Asset Management Inc. grew its holdings in Philip Morris International by 41.0% during the 1st quarter. Koshinski Asset Management Inc. now owns 7,238 shares of the company’s stock worth $663,000 after acquiring an additional 2,104 shares during the period. Kingsview Wealth Management LLC grew its holdings in Philip Morris International by 4.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 13,675 shares of the company’s stock worth $1,253,000 after acquiring an additional 642 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Philip Morris International by 27.6% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 10,595 shares of the company’s stock worth $971,000 after acquiring an additional 2,291 shares in the last quarter. Finally, Anthracite Investment Company Inc. bought a new stake in shares of Philip Morris International during the 1st quarter valued at about $1,500,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM stock opened at $125.24 on Thursday. The company has a market capitalization of $194.73 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The business has a 50-day simple moving average of $124.21 and a two-hundred day simple moving average of $113.02.

Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.31%. Philip Morris International’s payout ratio is 85.71%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of Philip Morris International 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 transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Citigroup upped their price objective 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. Finally, Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $127.85.

Check Out Our Latest Stock Analysis on Philip Morris International

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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