Cambridge Investment Research Advisors Inc. Purchases 3,288 Shares of Philip Morris International Inc. (NYSE:PM)

Cambridge Investment Research Advisors Inc. increased its stake in Philip Morris International Inc. (NYSE:PM) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,851 shares of the company’s stock after buying an additional 3,288 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Philip Morris International were worth $18,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PM. Iron Horse Wealth Management LLC grew its holdings in 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. Boyd Watterson Asset Management LLC OH raised its position in 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 valued at $30,000 after purchasing an additional 230 shares during the period. Fortitude Family Office LLC raised its stake in shares of Philip Morris International by 57.4% in 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. Northwest Financial Advisors bought a new position in Philip Morris International in the 4th quarter valued at $33,000. Finally, Olistico Wealth LLC purchased a new position in shares of Philip Morris International during the second quarter worth approximately $34,000. Institutional investors own 78.63% of the company’s stock.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the 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 transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 1.0 %

PM stock opened at $122.41 on Wednesday. The company’s 50-day moving average price is $109.77 and its 200 day moving average price is $100.21. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $122.54. The company has a market cap of $190.29 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (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 net margin of 9.41% and a negative return on equity of 113.32%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced 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 of this dividend was Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 4.25%. Philip Morris International’s payout ratio is currently 101.56%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Bank of America lifted their target price on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays raised 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. Stifel Nicolaus increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. One investment 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. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $109.80.

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.