Atria Wealth Solutions Inc. Acquires 3,018 Shares of Philip Morris International Inc. (NYSE:PM)

Atria Wealth Solutions Inc. grew its position in Philip Morris International Inc. (NYSE:PM) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,690 shares of the company’s stock after purchasing an additional 3,018 shares during the period. Atria Wealth Solutions Inc.’s holdings in Philip Morris International were worth $8,854,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Aaron Wealth Advisors LLC lifted its position in Philip Morris International by 4.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,931 shares of the company’s stock worth $500,000 after buying an additional 191 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Philip Morris International by 0.3% during the second quarter. Fifth Third Bancorp now owns 478,198 shares of the company’s stock worth $48,456,000 after purchasing an additional 1,226 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its stake in shares of Philip Morris International by 9.3% during the second quarter. Onyx Bridge Wealth Group LLC now owns 9,638 shares of the company’s stock valued at $977,000 after purchasing an additional 820 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $209,000. Finally, Focus Financial Network Inc. lifted its holdings in Philip Morris International by 3.1% during the 2nd quarter. Focus Financial Network Inc. now owns 4,788 shares of the company’s stock worth $519,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 shares were 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 directly 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 at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price objective on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America raised their target price on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays boosted their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Philip Morris International Price Performance

NYSE:PM traded up $1.03 on Wednesday, hitting $120.01. 4,159,625 shares of the company’s stock were exchanged, compared to its average volume of 5,351,644. The firm has a 50-day moving average price of $108.66 and a 200-day moving average price of $99.52. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $120.09. The company has a market cap of $186.56 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, research analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

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.