Concorde Asset Management LLC Buys 239 Shares of Philip Morris International Inc. (NYSE:PM)

Concorde Asset Management LLC grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 9.6% in the second quarter, HoldingsChannel.com reports. The fund owned 2,721 shares of the company’s stock after acquiring an additional 239 shares during the quarter. Concorde Asset Management LLC’s holdings in Philip Morris International were worth $276,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC lifted its position 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 worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH boosted its position in shares of 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 worth $30,000 after acquiring an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in 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 last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

PM has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised 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. Barclays boosted their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.05.

Philip Morris International Price Performance

Philip Morris International stock opened at $120.96 on Thursday. The business has a 50 day moving average of $117.57 and a 200-day moving average of $104.25. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company has a market capitalization of $188.04 billion, a P/E ratio of 23.63, a P/E/G ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released 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 firm had revenue of $9.47 billion during 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 105.47%.

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.