Park Place Capital Corp Sells 5,130 Shares of Philip Morris International Inc. (NYSE:PM)

Park Place Capital Corp lessened its stake in Philip Morris International Inc. (NYSE:PM) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,396 shares of the company’s stock after selling 5,130 shares during the period. Park Place Capital Corp’s holdings in Philip Morris International were worth $1,053,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kessler Investment Group LLC purchased a new position in Philip Morris International in the 1st quarter worth about $25,000. Boyd Watterson Asset Management LLC OH increased its position in Philip Morris International by 250.0% during 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 during the period. Tennessee Valley Asset Management Partners purchased a new position in Philip Morris International during the 4th quarter valued at about $33,000. Northwest Financial Advisors purchased a new position in Philip Morris International during the 4th quarter valued at about $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Philip Morris International during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PM. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. 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 report on Thursday, July 25th. Bank of America raised their target price on shares of 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, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

Philip Morris International Stock Performance

PM stock traded up $0.36 during trading on Friday, reaching $117.82. The company had a trading volume of 7,405,946 shares, compared to its average volume of 5,061,314. The firm has a 50-day simple moving average of $104.84 and a 200-day simple moving average of $97.29. The company has a market cap of $183.16 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $119.06.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate 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 business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the business posted $1.60 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insider Activity at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were 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 in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

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.