Philip Morris International Inc. (NYSE:PM) Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,513 shares of the company’s stock after selling 155 shares during the period. Ellis Investment Partners LLC’s holdings in Philip Morris International were worth $660,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC increased 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 valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new stake in Philip Morris International in the second quarter worth approximately $25,000. Boyd Watterson Asset Management LLC OH raised its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares in the last quarter. Fortitude Family Office LLC boosted 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 valued at $32,000 after acquiring an additional 116 shares during the period. Finally, Northwest Financial Advisors bought a new stake in Philip Morris International in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PM. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays raised 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 report on Wednesday, August 14th. One research 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.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $113.70.

Philip Morris International Trading Up 0.5 %

Philip Morris International stock traded up $0.63 during mid-day trading on Friday, reaching $125.81. The company’s stock had a trading volume of 8,412,610 shares, compared to its average volume of 5,317,667. The business has a 50 day moving average price of $113.87 and a 200-day moving average price of $102.32. The firm has a market cap of $195.58 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.41 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $127.45.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results 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 negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

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.