Prio Wealth Limited Partnership Sells 2,830 Shares of Philip Morris International Inc. (NYSE:PM)

Prio Wealth Limited Partnership lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 31.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,115 shares of the company’s stock after selling 2,830 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Philip Morris International were worth $620,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PM. Iron Horse Wealth Management LLC boosted its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the second quarter valued at approximately $25,000. Sachetta LLC boosted its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position 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 buying an additional 230 shares during the period. Finally, Fortitude Family Office LLC increased its stake 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 valued at $32,000 after acquiring an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.8 %

NYSE PM opened at $119.60 on Thursday. The business has a fifty day simple moving average of $120.26 and a 200 day simple moving average of $106.20. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a market capitalization of $185.93 billion, a P/E ratio of 23.36, a PEG ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the firm earned $1.60 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.52%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s 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 of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s 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 completion of the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,038,150.00. Following the completion of the sale, the insider now directly 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PM. Bank of America increased their target price 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. Stifel Nicolaus increased their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group increased their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group boosted 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, September 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.45.

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.