DoubleLine ETF Adviser LP Lowers Stock Holdings in Philip Morris International Inc. (NYSE:PM)

DoubleLine ETF Adviser LP cut its holdings in Philip Morris International Inc. (NYSE:PM) by 0.8% in the second quarter, Holdings Channel reports. The institutional investor owned 43,937 shares of the company’s stock after selling 375 shares during the quarter. Philip Morris International accounts for 1.2% of DoubleLine ETF Adviser LP’s holdings, making the stock its 18th largest holding. DoubleLine ETF Adviser LP’s holdings in Philip Morris International were worth $4,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC increased its holdings in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Philip Morris International during the second quarter worth about $25,000. Sachetta LLC increased its stake in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised 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 purchasing an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PM. 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. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Barclays increased their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $1,038,150.00. Following the completion of 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. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $121.72 on Thursday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company’s 50 day simple moving average is $118.79 and its 200-day simple moving average is $105.17. The company has a market capitalization of $189.25 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. Equities analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm 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 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

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.