Means Investment CO. Inc. Increases Stake in Philip Morris International Inc. (NYSE:PM)

Means Investment CO. Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,920 shares of the company’s stock after purchasing an additional 311 shares during the period. Means Investment CO. Inc.’s holdings in Philip Morris International were worth $3,538,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PM. Long Run Wealth Advisors LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at about $215,000. Marshall Financial Group LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $616,000. Revolve Wealth Partners LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $205,000. Raymond James & Associates increased its stake in Philip Morris International by 52.0% in the 2nd quarter. Raymond James & Associates now owns 3,296,626 shares of the company’s stock valued at $334,047,000 after purchasing an additional 1,127,286 shares in the last quarter. Finally, Hoylecohen LLC increased its stake in Philip Morris International by 5.0% in the 2nd quarter. Hoylecohen LLC now owns 10,108 shares of the company’s stock valued at $1,024,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PM. JPMorgan Chase & Co. upped their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. 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. Bank of America lifted their target price on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price target 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. Finally, StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Philip Morris International Stock Up 0.3 %

Shares of PM stock traded up $0.39 during mid-day trading on Monday, hitting $118.45. 3,700,996 shares of the company’s stock were exchanged, compared to its average volume of 5,368,671. The stock has a market cap of $184.14 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $119.06. The stock has a 50-day simple moving average of $107.72 and a two-hundred day simple moving average of $99.02.

Philip Morris International (NYSE:PM) last announced 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. 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%. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $1.60 EPS. As a group, analysts anticipate that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were issued a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 4.39%. Philip Morris International’s payout ratio is 101.56%.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the 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 of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.