First City Capital Management Inc. Sells 100 Shares of Philip Morris International Inc. (NYSE:PM)

by · The Cerbat Gem

First City Capital Management Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,524 shares of the company’s stock after selling 100 shares during the period. First City Capital Management Inc.’s holdings in Philip Morris International were worth $671,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Woodmont Investment Counsel LLC increased its holdings in Philip Morris International by 1.6% in the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after purchasing an additional 86 shares during the period. YHB Investment Advisors Inc. increased its holdings in Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares during the period. Longfellow Investment Management Co. LLC increased 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 purchasing an additional 88 shares during the period. Dearborn Partners LLC increased its holdings in Philip Morris International by 3.2% in 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 period. Finally, Cypress Wealth Services LLC increased its holdings in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after purchasing an additional 89 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 2.4 %

NYSE PM opened at $131.72 on Tuesday. The company has a fifty day simple moving average of $124.39 and a 200 day simple moving average of $113.94. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market cap of $204.80 billion, a P/E ratio of 20.91, a PEG ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (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 business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the firm posted $1.67 EPS. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.10%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 7,500 shares of the firm’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 transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PM shares. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.50.

Read 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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