Aviso Wealth Management Sells 2,430 Shares of Philip Morris International Inc. (NYSE:PM)

Aviso Wealth Management decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 40.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,574 shares of the company’s stock after selling 2,430 shares during the period. Aviso Wealth Management’s holdings in Philip Morris International were worth $362,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Diversify Advisory Services LLC bought a new stake in shares of Philip Morris International during the 1st quarter valued at about $5,634,000. Axxcess Wealth Management LLC boosted its stake in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Nebula Research & Development LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $857,000. Pinebridge Investments L.P. boosted its stake in shares of Philip Morris International by 99.5% during the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares in the last quarter. Finally, Duality Advisers LP boosted its stake in Philip Morris International by 165.6% during the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after acquiring an additional 24,093 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred 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 directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Stifel Nicolaus boosted 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. UBS Group boosted their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Barclays boosted their price objective on shares of 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 boosted their price objective on shares of 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, The Goldman Sachs Group boosted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.14.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $120.62 on Friday. The firm’s 50 day moving average price is $119.60 and its 200-day moving average price is $105.65. The company has a market cap of $187.51 billion, a PE ratio of 23.56, a P/E/G ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.48%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s payout ratio is presently 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.