Chevy Chase Trust Holdings LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Chevy Chase Trust Holdings LLC lowered its stake in Philip Morris International Inc. (NYSE:PM) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 837,449 shares of the company’s stock after selling 15,122 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Philip Morris International were worth $101,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. 49 Wealth Management LLC grew its position in shares of Philip Morris International by 3.6% in the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $295,000 after purchasing an additional 84 shares during the period. Woodmont Investment Counsel LLC lifted its stake in Philip Morris International by 1.6% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after buying an additional 86 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Philip Morris International by 4.2% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after buying an additional 87 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its holdings in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after buying an additional 88 shares during the last quarter. Finally, Dearborn Partners LLC increased its stake in Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $133.02 on Monday. The company’s 50-day moving average is $125.74 and its two-hundred day moving average is $115.99. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The firm has a market capitalization of $206.82 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.33 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 earnings per share. As a group, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors 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 4.06%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Insider Activity at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’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 owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade 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 owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PM shares. Barclays raised their target price on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Bank of America lifted 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group boosted their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

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.