NewEdge Advisors LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

NewEdge Advisors LLC raised its holdings in Philip Morris International Inc. (NYSE:PM) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,575 shares of the company’s stock after purchasing an additional 7,071 shares during the quarter. NewEdge Advisors LLC’s holdings in Philip Morris International were worth $11,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Iron Horse Wealth Management LLC grew its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC purchased a new position in Philip Morris International in the second quarter valued at about $25,000. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH increased its stake in shares of Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on PM shares. The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group upped their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.14.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Down 0.2 %

Shares of Philip Morris International stock opened at $120.62 on Monday. The company’s 50-day moving average price is $119.60 and its 200-day moving average price is $105.72. The company has a market cap of $187.51 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.37 and a beta of 0.55. 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 posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. The business 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 business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. 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 firm 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. This represents a $5.40 annualized dividend and a yield of 4.48%. 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 payout ratio is presently 105.47%.

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.