Luts & Greenleigh Group Inc. Takes $847,000 Position in Philip Morris International Inc. (NYSE:PM)

Luts & Greenleigh Group Inc. acquired a new position in Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,359 shares of the company’s stock, valued at approximately $847,000. Philip Morris International makes up 0.9% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 24th largest position.

Other institutional investors have also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC raised its holdings in Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares during the last quarter. Dearborn Partners LLC grew its position in shares of Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the period. LRI Investments LLC raised its stake in shares of Philip Morris International by 1.5% during the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after buying an additional 92 shares during the last quarter. Cahill Financial Advisors Inc. lifted its holdings in Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after buying an additional 99 shares during the period. Finally, Bar Harbor Wealth Management lifted its holdings in Philip Morris International by 2.6% in the second quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock valued at $397,000 after buying an additional 100 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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 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 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 through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s 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 completion of the sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PM. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group upped their price objective on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $117.05.

Philip Morris International Trading Up 0.3 %

Philip Morris International stock opened at $125.99 on Tuesday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The company has a fifty day simple moving average of $116.78 and a 200 day simple moving average of $103.89. The company has a market cap of $195.86 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

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. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.29%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 101.56%.

Philip Morris International 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.