Zurcher Kantonalbank Zurich Cantonalbank Purchases 19,950 Shares of Philip Morris International Inc. (NYSE:PM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Philip Morris International Inc. (NYSE:PM) by 6.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 311,464 shares of the company’s stock after purchasing an additional 19,950 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Philip Morris International were worth $31,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Kovack Advisors Inc. increased its holdings in Philip Morris International by 35.6% in the 4th quarter. Kovack Advisors Inc. now owns 5,976 shares of the company’s stock worth $562,000 after acquiring an additional 1,569 shares during the last quarter. Stonebrook Private Inc. purchased a new position in Philip Morris International during the fourth quarter worth about $242,000. Fiduciary Group LLC increased its stake in Philip Morris International by 5.0% in the 4th quarter. Fiduciary Group LLC now owns 11,489 shares of the company’s stock worth $1,081,000 after acquiring an additional 543 shares during the last quarter. Marco Investment Management LLC increased its stake in Philip Morris International by 8.4% in the 4th quarter. Marco Investment Management LLC now owns 3,369 shares of the company’s stock worth $317,000 after acquiring an additional 261 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its stake in Philip Morris International by 10.4% in the 4th quarter. Capital Investment Counsel Inc now owns 2,417 shares of the company’s stock worth $227,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

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

Philip Morris International Price Performance

Shares of NYSE:PM traded up $0.01 during mid-day trading on Thursday, reaching $122.58. 3,619,424 shares of the company traded hands, compared to its average volume of 5,289,174. The company’s 50 day moving average price is $110.62 and its 200-day moving average price is $100.60. The firm has a market cap of $190.56 billion, a PE ratio of 23.94, a PEG ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $123.05.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.24%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Analysts Set New Price Targets

PM has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on 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 lifted their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays lifted their price objective on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Bank of America increased their price objective 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. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.