Cornerstone Wealth Management LLC Buys 200 Shares of Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Management LLC boosted its position in Philip Morris International Inc. (NYSE:PM) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,042 shares of the company’s stock after buying an additional 200 shares during the period. Cornerstone Wealth Management LLC’s holdings in Philip Morris International were worth $1,220,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PM. Kessler Investment Group LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $25,000. Boyd Watterson Asset Management LLC OH boosted its position in shares of Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International in the 4th quarter valued at $33,000. Finally, Northwest Financial Advisors bought a new position in Philip Morris International during the 4th quarter valued at $33,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PM. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America boosted their price objective on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays lifted their target price on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Stifel Nicolaus boosted their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Philip Morris International Trading Up 0.3 %

Shares of PM traded up $0.34 during trading hours on Thursday, reaching $117.54. 1,853,544 shares of the company’s stock traded hands, compared to its average volume of 5,373,514. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $119.06. The stock has a market cap of $182.72 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The firm’s 50 day simple moving average is $107.16 and its 200-day simple moving average is $98.59.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company posted $1.60 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.42%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insider Activity at Philip Morris International

In other news, 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 value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by 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.