Philip Morris International Inc. (NYSE:PM) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. decreased its position in Philip Morris International Inc. (NYSE:PM) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,234 shares of the company’s stock after selling 4,200 shares during the quarter. Meyer Handelman Co.’s holdings in Philip Morris International were worth $6,509,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kessler Investment Group LLC acquired a new stake in Philip Morris International during the first quarter worth approximately $25,000. Fortitude Family Office LLC raised its holdings in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares in the last quarter. Olistico Wealth LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $34,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in Philip Morris International during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America raised 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. Finally, Stifel Nicolaus raised 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.80.

Philip Morris International Stock Up 1.6 %

NYSE:PM traded up $1.82 during midday trading on Tuesday, reaching $117.91. The stock had a trading volume of 5,306,049 shares, compared to its average volume of 5,404,646. The firm has a fifty day simple moving average of $106.89 and a two-hundred day simple moving average of $98.46. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $119.06. The stock has a market cap of $183.30 billion, a P/E ratio of 23.03, a P/E/G 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, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the firm posted $1.60 EPS. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors 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 yield of 4.41%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction 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 completion of the transaction, the insider now 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 available at this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 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 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.