Northeast Financial Consultants Inc Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Northeast Financial Consultants Inc decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,742 shares of the company’s stock after selling 100 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Philip Morris International were worth $3,622,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares during the period. Capital World Investors increased its holdings in Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after buying an additional 1,684,992 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after acquiring an additional 1,800,864 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Philip Morris International by 0.6% in the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after acquiring an additional 77,820 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $120.62 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company has a market capitalization of $187.51 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The stock has a fifty day moving average of $119.60 and a two-hundred day moving average of $105.65.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared 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 a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.48%. Philip Morris International’s dividend payout ratio is 105.47%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group lifted 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. UBS Group increased their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 transaction, 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 accessible through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 sale, 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 currently owned by insiders.

Philip Morris International 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.