Royal Fund Management LLC Sells 1,533 Shares of Philip Morris International Inc. (NYSE:PM)

Royal Fund Management LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 14.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,971 shares of the company’s stock after selling 1,533 shares during the quarter. Royal Fund Management LLC’s holdings in Philip Morris International were worth $911,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PM. Bar Harbor Wealth Management increased its holdings in Philip Morris International by 2.6% during the second quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock valued at $397,000 after buying an additional 100 shares during the period. KCM Investment Advisors LLC increased its holdings in Philip Morris International by 2.8% during the first quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock valued at $354,000 after buying an additional 104 shares during the period. Smallwood Wealth Investment Management LLC increased its holdings in Philip Morris International by 0.6% during the first quarter. Smallwood Wealth Investment Management LLC now owns 17,495 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares during the period. 1ST Source Bank increased its holdings in Philip Morris International by 4.1% during the first quarter. 1ST Source Bank now owns 2,742 shares of the company’s stock valued at $251,000 after buying an additional 108 shares during the period. Finally, McKinley Carter Wealth Services Inc. increased its holdings in Philip Morris International by 4.7% during the first quarter. McKinley Carter Wealth Services Inc. now owns 2,460 shares of the company’s stock valued at $225,000 after buying an additional 111 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the firm’s 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 of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PM. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America raised their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Barclays upped their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.80.

Philip Morris International Price Performance

NYSE PM traded up $0.17 during mid-day trading on Friday, hitting $118.06. The stock had a trading volume of 3,707,409 shares, compared to its average volume of 5,379,225. The firm’s 50 day moving average is $107.72 and its 200 day moving average is $98.91. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $119.06. The stock has a market capitalization of $183.53 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating 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 firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company earned $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend 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.