Philip Morris International Inc. (NYSE:PM) Holdings Reduced by Rathbones Group PLC

Rathbones Group PLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 51,909 shares of the company’s stock after selling 4,811 shares during the quarter. Rathbones Group PLC’s holdings in Philip Morris International were worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of Nova Scotia increased its position in Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares during the period. Diversify Advisory Services LLC bought a new position in shares of Philip Morris International in the first quarter worth $5,634,000. Axxcess Wealth Management LLC increased its holdings in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at $857,000. Finally, Pinebridge Investments L.P. raised its stake in shares of Philip Morris International by 99.5% during the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Barclays boosted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $117.05.

Insiders Place Their Bets

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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were 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 in the company, valued at $17,906,095.47. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were 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 owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 0.8 %

Shares of Philip Morris International stock opened at $125.62 on Monday. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The firm has a market capitalization of $195.28 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The stock’s fifty day moving average is $116.31 and its 200-day moving average is $103.64.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.30%. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

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.