Kimelman & Baird LLC Buys New Position in Philip Morris International Inc. (NYSE:PM)

Kimelman & Baird LLC purchased a new position in Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, HoldingsChannel reports. The firm purchased 9,293 shares of the company’s stock, valued at approximately $942,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PM. Longfellow Investment Management Co. LLC increased its holdings in shares of Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after buying an additional 88 shares in the last quarter. Dearborn Partners LLC raised its position in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the last quarter. LRI Investments LLC boosted its stake in Philip Morris International by 1.5% in the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after purchasing an additional 92 shares in the last quarter. Cahill Financial Advisors Inc. grew its holdings in shares of Philip Morris International by 4.5% during the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after purchasing an additional 99 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. increased its stake in shares of Philip Morris International by 0.3% in the second quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after buying an additional 99 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.2 %

NYSE:PM opened at $120.62 on Monday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The firm has a market capitalization of $187.51 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.37 and a beta of 0.55. The business’s 50-day moving average price is $119.60 and its two-hundred day moving average price is $105.72.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 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 company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the business posted $1.60 EPS. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that Philip Morris International Inc. will post 6.45 earnings per share 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. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis 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 dividend payout ratio (DPR) is currently 105.47%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PM shares. Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised 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. 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 report on Monday, September 9th. The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. Finally, StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.14.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the 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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.