Anthracite Investment Company Inc. Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Anthracite Investment Company Inc. cut its position in Philip Morris International Inc. (NYSE:PM) by 27.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,000 shares of the company’s stock after selling 10,771 shares during the quarter. Philip Morris International accounts for 1.5% of Anthracite Investment Company Inc.’s portfolio, making the stock its 22nd largest position. Anthracite Investment Company Inc.’s holdings in Philip Morris International were worth $3,399,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in Philip Morris International by 1.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 214,734 shares of the company’s stock worth $26,069,000 after purchasing an additional 3,874 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Philip Morris International in the third quarter worth $28,581,000. Howe & Rusling Inc. raised its holdings in Philip Morris International by 0.3% in the third quarter. Howe & Rusling Inc. now owns 139,128 shares of the company’s stock valued at $16,890,000 after acquiring an additional 383 shares in the last quarter. Hilton Capital Management LLC boosted its stake in Philip Morris International by 68.9% during the 3rd quarter. Hilton Capital Management LLC now owns 5,126 shares of the company’s stock valued at $622,000 after acquiring an additional 2,091 shares during the last quarter. Finally, NS Partners Ltd grew its holdings in Philip Morris International by 1.3% during the 3rd quarter. NS Partners Ltd now owns 90,974 shares of the company’s stock worth $11,044,000 after acquiring an additional 1,196 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM opened at $129.54 on Wednesday. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The stock’s 50 day moving average price is $124.44 and its 200 day moving average price is $114.16. The stock has a market cap of $201.41 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data 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 business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current 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 paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Analysts Set New Price Targets

Several brokerages have recently commented on PM. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $131.50.

Insider Buying and Selling

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred 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 transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.