Foster Victor Wealth Advisors LLC Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Foster Victor Wealth Advisors LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,394 shares of the company’s stock after selling 6,681 shares during the quarter. Philip Morris International makes up about 1.2% of Foster Victor Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Foster Victor Wealth Advisors LLC’s holdings in Philip Morris International were worth $17,714,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Luts & Greenleigh Group Inc. grew its holdings in shares of Philip Morris International by 1.1% during the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after purchasing an additional 89 shares during the last quarter. Dover Advisors LLC grew its holdings in shares of Philip Morris International by 5.6% during the third quarter. Dover Advisors LLC now owns 8,237 shares of the company’s stock worth $1,000,000 after purchasing an additional 439 shares during the last quarter. SWS Partners grew its holdings in shares of Philip Morris International by 4,939.7% during the third quarter. SWS Partners now owns 21,217 shares of the company’s stock worth $2,576,000 after purchasing an additional 20,796 shares during the last quarter. Occidental Asset Management LLC grew its holdings in shares of Philip Morris International by 13.0% during the third quarter. Occidental Asset Management LLC now owns 2,585 shares of the company’s stock worth $314,000 after purchasing an additional 297 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Philip Morris International by 1.1% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,180 shares of the company’s stock worth $993,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PM shares. UBS Group dropped their price objective on Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a report on Tuesday. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.95.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.3 %

PM stock opened at $120.42 on Wednesday. The firm has a 50 day moving average of $121.09 and a 200-day moving average of $108.01. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The company has a market cap of $187.20 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm earned $1.60 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts forecast that Philip Morris International Inc. will post 6.45 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. Stockholders 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 4.48%. This is a boost 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 105.47%.

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.