Hexagon Capital Partners LLC Sells 571 Shares of Philip Morris International Inc. (NYSE:PM)

Hexagon Capital Partners LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,188 shares of the company’s stock after selling 571 shares during the quarter. Philip Morris International accounts for about 0.3% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 25th largest holding. Hexagon Capital Partners LLC’s holdings in Philip Morris International were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC increased its position in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Philip Morris International during the second quarter worth approximately $25,000. Sachetta LLC raised its holdings in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its stake in Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC raised its position 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 buying 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 Price Performance

Shares of Philip Morris International stock opened at $120.18 on Thursday. The firm has a market cap of $186.83 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $128.22. The stock’s 50-day moving average is $120.65 and its 200 day moving average is $107.00.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio is currently 105.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on PM shares. Stifel Nicolaus upped their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup boosted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Barclays lifted their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.41.

Insider Buying and Selling

In other Philip Morris International news, 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 completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate 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.