Bay Colony Advisory Group Inc d b a Bay Colony Advisors Decreases Position in Philip Morris International Inc. (NYSE:PM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its stake in Philip Morris International Inc. (NYSE:PM) by 44.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,406 shares of the company’s stock after selling 5,078 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Philip Morris International were worth $649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Kessler Investment Group LLC acquired a new stake in Philip Morris International during the 1st quarter worth $25,000. Iron Horse Wealth Management LLC grew its holdings in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of 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. Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM traded down $0.10 during trading on Friday, hitting $120.00. 837,749 shares of the company were exchanged, compared to its average volume of 5,316,629. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $120.27. The company has a market cap of $186.55 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.35 and a beta of 0.58. The firm’s fifty day moving average price is $109.03 and its 200 day moving average price is $99.67.

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

Philip Morris International Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays lifted their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America upped their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus upped their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of the company’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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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. Company insiders own 0.13% of the company’s stock.

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.