Cooper Financial Group Trims Holdings in Philip Morris International Inc. (NYSE:PM)

Cooper Financial Group decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,753 shares of the company’s stock after selling 4,148 shares during the quarter. Cooper Financial Group’s holdings in Philip Morris International were worth $887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GQG Partners LLC raised its position in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after buying an additional 5,841,696 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Philip Morris International by 9.1% during the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock worth $5,495,794,000 after purchasing an additional 4,869,272 shares during the period. Lone Pine Capital LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock worth $996,104,000 after purchasing an additional 2,123,311 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Philip Morris International by 5,045.1% during the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after purchasing an additional 2,081,472 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM traded up $1.44 during mid-day trading on Tuesday, hitting $117.53. The company’s stock had a trading volume of 1,597,516 shares, compared to its average volume of 5,380,098. The firm has a market capitalization of $182.71 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The stock’s fifty day simple moving average is $106.61 and its two-hundred day simple moving average is $98.27. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $119.06.

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, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. On average, equities analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders 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 dividend yield of 4.42%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price objective 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 increased their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America increased their price objective on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Transactions at Philip Morris International

In other 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 owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’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 sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.