Arkos Global Advisors Sells 960 Shares of Philip Morris International Inc. (NYSE:PM)

Arkos Global Advisors lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 26.8% during the 2nd quarter, Holdings Channel reports. The firm owned 2,622 shares of the company’s stock after selling 960 shares during the period. Arkos Global Advisors’ holdings in Philip Morris International were worth $266,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in Philip Morris International by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company’s stock worth $1,056,957,000 after purchasing an additional 469,806 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Philip Morris International by 6.5% in the second quarter. Mackenzie Financial Corp now owns 2,885,824 shares of the company’s stock worth $292,421,000 after purchasing an additional 175,322 shares during the last quarter. Maplelane Capital LLC purchased a new stake in shares of Philip Morris International in the second quarter worth about $15,909,000. Maverick Capital Ltd. boosted its stake in Philip Morris International by 6.6% during the second quarter. Maverick Capital Ltd. now owns 2,008,928 shares of the company’s stock valued at $203,565,000 after buying an additional 124,514 shares during the last quarter. Finally, MBB Public Markets I LLC grew its holdings in Philip Morris International by 1,800.9% during the 2nd quarter. MBB Public Markets I LLC now owns 110,444 shares of the company’s stock valued at $11,191,000 after buying an additional 104,634 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on 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 in the company, valued at $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the company’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 completion of the sale, 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 currently owned by company insiders.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $120.58 on Friday. The firm has a market capitalization of $187.45 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The business has a 50 day simple moving average of $119.60 and a two-hundred day simple moving average of $105.57. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company posted $1.60 EPS. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business 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 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PM shares. Barclays upped their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.14.

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.