Citizens Financial Group Inc. RI Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Citizens Financial Group Inc. RI grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 18.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,281 shares of the company’s stock after buying an additional 2,205 shares during the period. Citizens Financial Group Inc. RI’s holdings in Philip Morris International were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Longfellow Investment Management Co. LLC increased its stake in Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the last quarter. Dearborn Partners LLC raised its stake in Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares in the last quarter. LRI Investments LLC lifted its position in Philip Morris International by 1.5% in the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after acquiring an additional 92 shares during the last quarter. Cahill Financial Advisors Inc. boosted its stake in Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after acquiring an additional 99 shares in the last quarter. Finally, Bar Harbor Wealth Management grew its holdings in shares of Philip Morris International by 2.6% during the second quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock worth $397,000 after purchasing an additional 100 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In other Philip Morris International news, 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 completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’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 completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $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 Performance

PM opened at $123.23 on Wednesday. The company has a market cap of $191.57 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The business’s fifty day moving average is $117.21 and its two-hundred day moving average is $104.13.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. On average, analysts predict that Philip Morris International Inc. will post 6.45 EPS 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. Investors of record on Thursday, September 26th will be given a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. UBS Group raised 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. Finally, Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $117.05.

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.