Northwestern Mutual Wealth Management Co. Sells 26,485 Shares of Philip Morris International Inc. (NYSE:PM)

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,694 shares of the company’s stock after selling 26,485 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Philip Morris International were worth $13,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Iron Horse Wealth Management LLC lifted its holdings 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 purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International in the second quarter valued at approximately $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s 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 disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Stock Down 0.7 %

PM opened at $120.58 on Wednesday. The business’s fifty day simple moving average is $120.10 and its 200 day simple moving average is $106.10. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22. The stock has a market cap of $187.45 billion, a PE ratio of 23.55, a P/E/G ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.60 EPS. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.48%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PM. JPMorgan Chase & Co. raised their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, UBS Group increased their target price 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $120.68.

About Philip Morris International

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.