Philip Morris International Inc. (NYSE:PM) Shares Bought by Ieq Capital LLC

Ieq Capital LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 50,310 shares of the company’s stock after buying an additional 4,692 shares during the period. Ieq Capital LLC’s holdings in Philip Morris International were worth $5,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PM. Gilbert & Cook Inc. raised its holdings in shares of Philip Morris International by 3.8% in the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after purchasing an additional 404 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at $460,000. Tidemark LLC bought a new stake in shares of Philip Morris International during the 4th quarter worth $61,000. FineMark National Bank & Trust grew its holdings in shares of Philip Morris International by 1.3% in the 4th quarter. FineMark National Bank & Trust now owns 33,351 shares of the company’s stock worth $3,138,000 after acquiring an additional 413 shares during the last quarter. Finally, SageView Advisory Group LLC raised its position in shares of Philip Morris International by 64.7% during the fourth quarter. SageView Advisory Group LLC now owns 24,260 shares of the company’s stock worth $2,226,000 after purchasing an additional 9,528 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PM has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target 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. UBS Group lifted their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Barclays upped their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lifted 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 report on Thursday, July 25th. Finally, StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

Philip Morris International Stock Up 0.9 %

Shares of NYSE:PM opened at $120.79 on Friday. The firm has a fifty day moving average of $118.17 and a two-hundred day moving average of $104.57. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The firm has a market capitalization of $187.77 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data 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 firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.47%. 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 dividend payout ratio (DPR) is presently 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of the 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 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.

About Philip Morris International

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.