Greenleaf Trust Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Greenleaf Trust lifted its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,564 shares of the company’s stock after purchasing an additional 1,604 shares during the quarter. Greenleaf Trust’s holdings in Philip Morris International were worth $3,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. GQG Partners LLC grew its holdings in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after buying an additional 2,599,684 shares during the period. Van ECK Associates Corp lifted its position in shares of Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after purchasing an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Philip Morris International by 16.3% during 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 purchasing an additional 1,856,551 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PM. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. UBS Group reduced their target price on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.95.

Get Our Latest Analysis on Philip Morris International

Philip Morris International Price Performance

NYSE:PM traded down $1.99 during trading hours on Wednesday, reaching $129.42. The company had a trading volume of 754,356 shares, compared to its average volume of 5,344,575. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $131.97. The firm has a market cap of $201.19 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The business’s 50 day moving average price is $121.68 and its 200-day moving average price is $109.12.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the company earned $1.67 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

About Philip Morris International

(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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