Concurrent Investment Advisors LLC Raises Holdings in Philip Morris International Inc. (NYSE:PM)

Concurrent Investment Advisors LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 35.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 29,896 shares of the company’s stock after buying an additional 7,888 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Philip Morris International were worth $3,029,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC grew its stake in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position in 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 increased its stake in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Northwest Financial Advisors acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $33,000. Finally, Olistico Wealth LLC purchased a new position in shares of Philip Morris International in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several recent research reports. Barclays upped their target price on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upped their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. 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 report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, 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 research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Philip Morris International Stock Performance

NYSE PM traded up $0.74 during trading on Friday, reaching $123.29. 5,602,949 shares of the company’s stock were exchanged, compared to its average volume of 5,291,041. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $123.45. The stock has a market cap of $191.66 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The company has a 50 day moving average price of $111.52 and a two-hundred day moving average price of $100.98.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. Research analysts forecast that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Philip Morris International 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.