Raymond James Trust N.A. Has $12.57 Million Holdings in Philip Morris International Inc. (NYSE:PM)

by · The Cerbat Gem

Raymond James Trust N.A. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,565 shares of the company’s stock after selling 1,211 shares during the quarter. Raymond James Trust N.A.’s holdings in Philip Morris International were worth $12,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in 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 valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after purchasing an additional 736,961 shares during the last quarter. Legal & General Group Plc boosted its holdings in Philip Morris International by 4.7% in the second quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after purchasing an additional 469,806 shares in the last quarter. Ninety One UK Ltd increased its position in Philip Morris International by 0.9% during the second quarter. Ninety One UK Ltd now owns 9,467,759 shares of the company’s stock worth $959,368,000 after buying an additional 86,667 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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. According to data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $131.50.

View Our Latest Stock Report on Philip Morris International

Philip Morris International Stock Up 0.7 %

PM stock opened at $131.26 on Friday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a market cap of $204.09 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.27 and a beta of 0.54. The business’s 50-day simple moving average is $124.68 and its 200 day simple moving average is $114.39.

Philip Morris International (NYSE:PM – Get Free Report) 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 negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the business earned $1.67 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current 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 given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.11%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Insider Buying and Selling

In other Philip Morris International news, 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 completion of the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International 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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