Philip Morris International Inc. (NYSE:PM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,237,950 shares of the company’s stock after selling 4,513 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Philip Morris International were worth $226,771,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bank of Nova Scotia boosted its position in shares of Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $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 in the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC raised its holdings in 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 purchasing an additional 6,974 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth approximately $857,000. Finally, Pinebridge Investments L.P. boosted its holdings in shares of Philip Morris International by 99.5% in the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after buying an additional 26,960 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $120.84 on Friday. The stock has a market capitalization of $187.88 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The stock has a fifty day moving average price of $119.33 and a two-hundred day moving average price of $105.39.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping 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 firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 101.56%.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of the 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 transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was 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 approximately $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PM shares. UBS Group boosted their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.14.

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.