Rockingstone Advisors LLC Grows Holdings in Philip Morris International Inc. (NYSE:PM)

Rockingstone Advisors LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,628 shares of the company’s stock after buying an additional 588 shares during the quarter. Rockingstone Advisors LLC’s holdings in Philip Morris International were worth $2,293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International during the fourth quarter worth about $33,000. Keel Point LLC acquired a new stake in shares of Philip Morris International in the 4th quarter worth approximately $251,000. Private Client Services LLC purchased a new position in Philip Morris International in the 4th quarter valued at approximately $299,000. Flputnam Investment Management Co. raised its holdings in Philip Morris International by 5.7% during the fourth quarter. Flputnam Investment Management Co. now owns 9,172 shares of the company’s stock worth $863,000 after purchasing an additional 492 shares during the last quarter. Finally, First American Trust FSB acquired a new position in Philip Morris International during the fourth quarter worth $223,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM traded up $0.18 on Friday, reaching $118.07. The company’s stock had a trading volume of 3,707,377 shares, compared to its average volume of 5,379,225. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $119.06. The business’s 50 day moving average is $107.43 and its 200 day moving average is $98.73. The stock has a market cap of $183.55 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid 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 4.40%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Analyst Ratings Changes

Several brokerages recently weighed in on PM. Barclays boosted their target price on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. 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 note on Wednesday, July 24th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One 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, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $109.80.

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 completion of the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’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 completion of the sale, the insider now directly 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 owned by corporate insiders.

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.