Camden National Bank Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Camden National Bank lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,770 shares of the company’s stock after selling 87 shares during the quarter. Camden National Bank’s holdings in Philip Morris International were worth $458,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. White Lighthouse Investment Management Inc. lifted its stake in Philip Morris International by 71.4% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,999 shares during the period. Accredited Investors Inc. lifted its position in Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the period. Kennebec Savings Bank purchased a new stake in Philip Morris International in the third quarter valued at $692,000. Swiss National Bank lifted its holdings in shares of Philip Morris International by 0.4% in the 3rd quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock valued at $560,164,000 after buying an additional 17,700 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in Philip Morris International by 16.9% during the third quarter. Axxcess Wealth Management LLC now owns 40,377 shares of the company’s stock worth $4,902,000 after acquiring an additional 5,846 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $129.99 on Friday. The company’s 50 day simple moving average is $124.77 and its two-hundred day simple moving average is $114.62. The firm has a market capitalization of $202.11 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 2.30 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.

Philip Morris International (NYSE:PM) last posted 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. 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 analysts’ expectations of $9.68 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.15%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is 85.71%.

Analyst Ratings Changes

PM has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barclays increased their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Insider Buying and Selling at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred 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 $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International 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.