Philip Morris International Inc. (NYSE:PM) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 72.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,036 shares of the company’s stock after selling 15,728 shares during the quarter. Intech Investment Management LLC’s holdings in Philip Morris International were worth $612,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PM. Vanguard Group Inc. increased its stake in Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors increased its position in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE:PM opened at $120.84 on Friday. The firm has a market capitalization of $187.88 billion, a P/E ratio of 23.62, a P/E/G ratio of 2.37 and a beta of 0.55. The business has a 50 day simple moving average of $119.06 and a 200 day simple moving average of $105.29. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 101.56%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group increased their target price on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 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 sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.