Gradient Investments LLC Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

Gradient Investments LLC raised its holdings in Philip Morris International Inc. (NYSE:PM) by 183.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,187 shares of the company’s stock after buying an additional 1,415 shares during the quarter. Gradient Investments LLC’s holdings in Philip Morris International were worth $222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PM. Kessler Investment Group LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $25,000. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Philip Morris International during the 4th quarter worth approximately $33,000. Finally, Northwest Financial Advisors acquired a new position in Philip Morris International during the 4th quarter worth approximately $33,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.17 during trading on Friday, reaching $118.06. The stock had a trading volume of 3,707,409 shares, compared to its average volume of 5,379,225. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $119.06. The stock has a market cap of $183.53 billion, a PE ratio of 23.06, a P/E/G ratio of 2.35 and a beta of 0.58. The firm’s 50 day moving average price is $107.72 and its two-hundred day moving average price is $98.91.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $1.60 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a dividend of $1.30 per share. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.40%. Philip Morris International’s payout ratio is currently 101.56%.

Analyst Ratings Changes

PM has been the topic of several recent research reports. Barclays boosted their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price target on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upped their target price on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.80.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.