Fragasso Financial Advisors Inc Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

Fragasso Financial Advisors Inc cut its stake in Philip Morris International Inc. (NYSE:PM) by 20.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,761 shares of the company’s stock after selling 730 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Philip Morris International were worth $280,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares in the last quarter. Capital World Investors lifted its stake in shares of Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares in the last quarter. Capital Research Global Investors boosted its holdings in Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Philip Morris International by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,396,354 shares of the company’s stock valued at $1,226,746,000 after purchasing an additional 125,919 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s 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 completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $107.80.

Philip Morris International Stock Performance

Shares of PM traded up $0.63 during midday trading on Tuesday, hitting $114.19. 6,274,484 shares of the stock traded hands, compared to its average volume of 5,443,429. The business’s 50 day moving average price is $105.11 and its two-hundred day moving average price is $97.43. The firm has a market capitalization of $177.51 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $119.06.

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, 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 firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business posted $1.60 EPS. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is currently 101.56%.

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.