Rhumbline Advisers Sells 144,512 Shares of Philip Morris International Inc. (NYSE:PM)

Rhumbline Advisers cut its stake in Philip Morris International Inc. (NYSE:PM) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,671,946 shares of the company’s stock after selling 144,512 shares during the quarter. Rhumbline Advisers owned about 0.17% of Philip Morris International worth $270,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PM. Iron Horse Wealth Management LLC lifted its stake in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH lifted its holdings in Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Philip Morris International in the 2nd quarter valued at about $34,000. Finally, Northwest Financial Advisors purchased a new position in Philip Morris International during the 4th quarter worth $33,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.6 %

NYSE:PM opened at $123.29 on Tuesday. The firm has a market cap of $191.69 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58. The stock has a 50 day moving average of $111.94 and a two-hundred day moving average of $101.39. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $123.45.

Philip Morris International (NYSE:PM) last posted 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. 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 during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company earned $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Dividend Announcement

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

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred 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 $17,906,095.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the business’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 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 legal filing with the SEC, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on PM. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays lifted their target price on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price target on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average 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.