D1 Capital Partners L.P. Sells 2,798,671 Shares of Philip Morris International Inc. (NYSE:PM)

D1 Capital Partners L.P. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 46.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,286,873 shares of the company’s stock after selling 2,798,671 shares during the quarter. Philip Morris International makes up approximately 7.7% of D1 Capital Partners L.P.’s portfolio, making the stock its 3rd biggest position. D1 Capital Partners L.P.’s holdings in Philip Morris International were worth $399,026,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PM. Hancock Whitney Corp raised its position in shares of Philip Morris International by 9.0% during the 1st quarter. Hancock Whitney Corp now owns 6,374 shares of the company’s stock worth $584,000 after acquiring an additional 525 shares in the last quarter. Cetera Investment Advisers raised its stake in Philip Morris International by 317.0% during the 1st quarter. Cetera Investment Advisers now owns 481,323 shares of the company’s stock worth $44,099,000 after acquiring an additional 365,896 shares in the last quarter. Cetera Advisors LLC lifted its position in Philip Morris International by 38.2% in the first quarter. Cetera Advisors LLC now owns 174,481 shares of the company’s stock valued at $15,986,000 after acquiring an additional 48,249 shares during the last quarter. Cetera Advisor Networks LLC boosted its stake in Philip Morris International by 1.8% in the first quarter. Cetera Advisor Networks LLC now owns 233,398 shares of the company’s stock valued at $21,384,000 after acquiring an additional 4,134 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Philip Morris International by 7.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock worth $523,000 after purchasing an additional 390 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’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 transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group raised their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $131.50.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $131.82 on Friday. The firm has a market capitalization of $204.96 billion, a price-to-earnings ratio of 20.92, a price-to-earnings-growth ratio of 2.31 and a beta of 0.54. The business’s 50 day simple moving average is $125.50 and its 200-day simple moving average is $115.53. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15.

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 the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 85.71%.

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.