Summit Trail Advisors LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Summit Trail Advisors LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 273.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,077 shares of the company’s stock after acquiring an additional 35,202 shares during the period. Summit Trail Advisors LLC’s holdings in Philip Morris International were worth $4,934,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Bank of Nova Scotia boosted its holdings in shares of Philip Morris International by 283.5% in the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC raised its holdings in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after acquiring an additional 6,974 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at about $857,000. Finally, Pinebridge Investments L.P. boosted its stake in 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 during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Massimo Andolina sold 9,000 shares of the business’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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’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 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 currently owned by insiders.

Philip Morris International Trading Up 0.9 %

Shares of NYSE PM opened at $120.79 on Friday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a fifty day simple moving average of $118.17 and a two-hundred day simple moving average of $104.57. The firm has a market capitalization of $187.77 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

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 analysts’ consensus estimates 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 business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $1.60 EPS. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. On average, 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 business also recently announced 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. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.47%. Philip Morris International’s payout ratio is 105.47%.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. Barclays boosted their price objective 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. JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. UBS Group increased 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. Deutsche Bank Aktiengesellschaft lifted 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 report on Thursday, July 25th. Finally, Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.