Philip Morris International Inc. (NYSE:PM) Shares Sold by Rathbones Group PLC

Rathbones Group PLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 51,909 shares of the company’s stock after selling 4,811 shares during the period. Rathbones Group PLC’s holdings in Philip Morris International were worth $5,260,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PM. Bank of Nova Scotia lifted its holdings in shares of Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after acquiring an additional 876,790 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at $5,634,000. Axxcess Wealth Management LLC grew its stake in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth $857,000. Finally, Pinebridge Investments L.P. boosted its holdings in Philip Morris International by 99.5% in the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after acquiring an additional 26,960 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the business’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 value of $1,038,150.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated 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 owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Performance

NYSE:PM opened at $125.62 on Monday. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The business’s 50-day simple moving average is $116.31 and its 200 day simple moving average is $103.64. The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company posted $1.60 EPS. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.30%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PM shares. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target 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. Barclays increased their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $117.05.

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.