B. Riley Wealth Advisors Inc. Has $3.18 Million Holdings in Philip Morris International Inc. (NYSE:PM)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,953 shares of the company’s stock after selling 9,031 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Philip Morris International were worth $3,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Quarry LP boosted its stake in Philip Morris International by 79.0% in the 2nd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $161,000 after purchasing an additional 700 shares during the period. Invst LLC lifted its holdings in shares of Philip Morris International by 8.9% in the second quarter. Invst LLC now owns 4,689 shares of the company’s stock valued at $475,000 after purchasing an additional 384 shares in the last quarter. Wallace Advisory Group LLC boosted its position in shares of Philip Morris International by 4.8% during the second quarter. Wallace Advisory Group LLC now owns 11,378 shares of the company’s stock worth $1,153,000 after buying an additional 516 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Philip Morris International by 24.8% during the second quarter. Sunbelt Securities Inc. now owns 5,077 shares of the company’s stock worth $514,000 after buying an additional 1,009 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Philip Morris International by 6.5% during the second quarter. NewEdge Advisors LLC now owns 116,575 shares of the company’s stock worth $11,813,000 after buying an additional 7,071 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Philip Morris International stock opened at $120.58 on Wednesday. The stock has a 50-day simple moving average of $120.10 and a 200 day simple moving average of $106.10. The stock has a market capitalization of $187.45 billion, a P/E ratio of 23.55, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts forecast 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. Stockholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on PM. JPMorgan Chase & Co. boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price target 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, September 26th. Finally, Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $120.68.

Insider Buying and Selling

In other Philip Morris International 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 value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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. 0.13% of the stock is currently owned by insiders.

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.