Resources Management Corp CT ADV Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Resources Management Corp CT ADV reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 4,250 shares of the company’s stock after selling 115 shares during the period. Resources Management Corp CT ADV’s holdings in Philip Morris International were worth $431,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PM. Iron Horse Wealth Management LLC grew 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 valued at $25,000 after acquiring 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 about $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings 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 purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC increased its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.1 %

PM stock opened at $121.27 on Wednesday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The company has a market capitalization of $188.55 billion, a PE ratio of 23.69, a P/E/G ratio of 2.37 and a beta of 0.55. The stock’s 50 day moving average is $118.79 and its two-hundred day moving average is $105.17.

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 analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion for 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 firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. As a group, sell-side analysts anticipate 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 4.45%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on 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 approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’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 completion of the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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 $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent research reports. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays lifted their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus increased their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, UBS Group increased their target price on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.