Schrum Private Wealth Management LLC Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Schrum Private Wealth Management LLC cut its holdings in Philip Morris International Inc. (NYSE:PM) by 27.4% during the second quarter, Holdings Channel reports. The firm owned 2,743 shares of the company’s stock after selling 1,033 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Philip Morris International were worth $278,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. purchased a new position in Philip Morris International in the 2nd quarter worth approximately $7,343,000. Kings Path Partners LLC purchased a new position in Philip Morris International in the 2nd quarter worth approximately $925,000. Centerpoint Advisors LLC lifted its holdings in Philip Morris International by 8.4% in the 2nd quarter. Centerpoint Advisors LLC now owns 3,888 shares of the company’s stock worth $394,000 after purchasing an additional 300 shares in the last quarter. Forum Financial Management LP lifted its holdings in Philip Morris International by 2.4% in the 2nd quarter. Forum Financial Management LP now owns 10,981 shares of the company’s stock worth $1,113,000 after purchasing an additional 256 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Philip Morris International by 21.6% in the 2nd quarter. International Assets Investment Management LLC now owns 7,262 shares of the company’s stock worth $736,000 after acquiring an additional 1,288 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.74 during mid-day trading on Friday, hitting $123.29. The company’s stock had a trading volume of 5,602,949 shares, compared to its average volume of 5,291,041. The company has a 50 day moving average of $111.05 and a 200-day moving average of $100.75. The stock has a market cap of $191.66 billion, a PE ratio of 24.08, a P/E/G ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $123.45.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Analysts Set New Price Targets

A number of analysts have issued reports on PM shares. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America lifted their price objective on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. One 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, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. In other Philip Morris International 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of the company’s 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 completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently 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.