Cravens & Co Advisors LLC Trims Stake in Philip Morris International Inc. (NYSE:PM)

Cravens & Co Advisors LLC trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,978 shares of the company’s stock after selling 777 shares during the quarter. Philip Morris International makes up 0.9% of Cravens & Co Advisors LLC’s portfolio, making the stock its 19th biggest holding. Cravens & Co Advisors LLC’s holdings in Philip Morris International were worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PM. Valley Wealth Managers Inc. lifted its stake in shares of 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 purchasing an additional 183 shares during the period. Iron Horse Wealth Management LLC lifted its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the period. Sachetta LLC boosted its stake in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the last quarter. Concord Wealth Partners grew its holdings in Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the period. Finally, Fortitude Family Office LLC increased its stake in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock opened at $132.28 on Wednesday. The firm has a market capitalization of $205.67 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The stock’s 50 day moving average price is $125.04 and its 200 day moving average price is $115.30.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the company posted $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

In related news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PM. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Barclays upped their price target 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. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.