Raymond James Financial Services Advisors Inc. Lowers Position in Philip Morris International Inc. (NYSE:PM)

Raymond James Financial Services Advisors Inc. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 431,729 shares of the company’s stock after selling 9,987 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Philip Morris International were worth $43,747,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners bought a new position in Philip Morris International during the fourth quarter valued at $33,000. Western Wealth Management LLC raised its position in Philip Morris International by 4.4% in the 4th quarter. Western Wealth Management LLC now owns 5,068 shares of the company’s stock worth $477,000 after purchasing an additional 213 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Philip Morris International in the fourth quarter worth about $39,000. J.W. Cole Advisors Inc. boosted its position in shares of Philip Morris International by 2.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,468 shares of the company’s stock valued at $1,173,000 after buying an additional 288 shares during the period. Finally, Criterion Capital Advisors LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $59,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Philip Morris International news, 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 158,447 shares of the company’s stock, valued at $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 Stock Performance

PM traded up $0.39 during trading on Monday, hitting $118.45. The stock had a trading volume of 3,661,023 shares, compared to its average volume of 5,368,671. The stock has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $99.20. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $119.06. The company has a market capitalization of $184.14 billion, a PE ratio of 23.13, a PEG ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping 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 firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $1.60 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective 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. Bank of America raised their price target on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research note 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. Finally, StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.80.

Philip Morris International Company 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.