Obermeyer Wood Investment Counsel Lllp Cuts Position in Philip Morris International Inc. (NYSE:PM)

Obermeyer Wood Investment Counsel Lllp cut its stake in Philip Morris International Inc. (NYSE:PM) by 12.0% during the second quarter, HoldingsChannel reports. The fund owned 3,349 shares of the company’s stock after selling 457 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Philip Morris International were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Gilbert & Cook Inc. grew its stake in Philip Morris International by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after buying an additional 404 shares during the last quarter. Fisher Asset Management LLC grew its stake in Philip Morris International by 64.6% during the 4th quarter. Fisher Asset Management LLC now owns 19,910 shares of the company’s stock valued at $1,873,000 after purchasing an additional 7,815 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Philip Morris International by 110.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 32,972 shares of the company’s stock valued at $3,102,000 after purchasing an additional 17,293 shares during the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Philip Morris International by 104.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 32,068 shares of the company’s stock valued at $3,017,000 after purchasing an additional 16,397 shares during the last quarter. Finally, Channing Capital Management LLC grew its stake in Philip Morris International by 4.8% during the 4th quarter. Channing Capital Management LLC now owns 88,006 shares of the company’s stock valued at $8,280,000 after purchasing an additional 4,042 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.6 %

Shares of NYSE PM opened at $123.29 on Monday. The stock has a market cap of $191.69 billion, a P/E ratio of 24.08, a PEG ratio of 2.41 and a beta of 0.58. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $123.45. The business’s fifty day simple moving average is $111.52 and its 200-day simple moving average is $101.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share 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 analysts’ expectations of $9.19 billion. During the same period last year, the firm earned $1.60 earnings per share. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s 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 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 filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 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. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PM shares. Deutsche Bank Aktiengesellschaft boosted their price target 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. Barclays boosted their price objective on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report 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. Finally, Bank of America boosted their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target 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.