TrinityPoint Wealth LLC Trims Stake in Philip Morris International Inc. (NYSE:PM)

TrinityPoint Wealth LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,643 shares of the company’s stock after selling 1,469 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Philip Morris International were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Woodmont Investment Counsel LLC grew its holdings in Philip Morris International by 1.6% during 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. grew its stake in shares of Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares during the period. Longfellow Investment Management Co. LLC grew its stake in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares during the period. Dearborn Partners LLC increased its holdings in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares in the last quarter. Finally, Cypress Wealth Services LLC increased its holdings in Philip Morris International by 1.3% in the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after acquiring an additional 89 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

NYSE:PM opened at $128.59 on Monday. The company has a market cap of $199.94 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.25 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock’s 50 day simple moving average is $124.30 and its two-hundred day simple moving average is $113.69.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced 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. This represents a $5.40 annualized dividend and a dividend yield of 4.20%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The shares were 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 approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade 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 insiders.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Barclays upped their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus reissued 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Company Profile

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.