Pekin Hardy Strauss Inc. Raises Position in Philip Morris International Inc. (NYSE:PM)

Pekin Hardy Strauss Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,913 shares of the company’s stock after purchasing an additional 99 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Philip Morris International were worth $2,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Vanguard Group Inc. raised its holdings in shares of Philip Morris International by 0.4% in the first 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 during the period. Capital World Investors raised its holdings 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 buying an additional 1,684,992 shares during the period. Capital Research Global Investors raised its holdings in shares of 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 worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after buying an additional 77,820 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 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 available at this hyperlink. In related 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 transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.3 %

Shares of NYSE:PM opened at $125.99 on Tuesday. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The business’s fifty day simple moving average is $116.78 and its 200-day simple moving average is $103.89. The company has a market capitalization of $195.86 billion, a PE ratio of 24.61, a P/E/G ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly 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 negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the business posted $1.60 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared 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 is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.29%. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PM. JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays increased their price target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, UBS Group raised their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.05.

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.