Linscomb Wealth Inc. Has $9.58 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Linscomb Wealth Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 78,919 shares of the company’s stock after selling 2,493 shares during the quarter. Linscomb Wealth Inc.’s holdings in Philip Morris International were worth $9,581,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. boosted its stake in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Philip Morris International by 0.9% in the 3rd quarter. Empowered Funds LLC now owns 117,443 shares of the company’s stock valued at $14,258,000 after acquiring an additional 1,008 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Philip Morris International by 2.2% during the 3rd quarter. Empirical Finance LLC now owns 53,528 shares of the company’s stock worth $6,498,000 after purchasing an additional 1,136 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its position in shares of Philip Morris International by 3.6% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 11,680 shares of the company’s stock valued at $1,418,000 after acquiring an additional 407 shares during the period. Finally, CIBC Asset Management Inc lifted its position in shares of Philip Morris International by 19.8% in the third quarter. CIBC Asset Management Inc now owns 347,028 shares of the company’s stock valued at $42,126,000 after buying an additional 57,446 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred 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 of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Stock Up 1.4 %

Shares of PM traded up $1.78 during trading hours on Friday, reaching $129.98. 1,869,491 shares of the company traded hands, compared to its average volume of 5,381,534. 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 capitalization of $202.10 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The company’s fifty day moving average price is $124.25 and its two-hundred day moving average price is $113.21.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. On average, analysts expect 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. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PM shares. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. raised their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Citigroup raised 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $127.85.

About Philip Morris International

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.