Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its stake in Philip Morris International Inc. (NYSE:PM – Free Report) 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 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.
View Our Latest Research Report on Philip Morris International
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.
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