Raymond James & Associates Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Raymond James & Associates lifted its position in Philip Morris International Inc. (NYSE:PM) by 52.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,296,626 shares of the company’s stock after purchasing an additional 1,127,286 shares during the period. Raymond James & Associates owned 0.21% of Philip Morris International worth $334,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PM. Bank of Nova Scotia boosted its position in Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC lifted its holdings in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares during the last quarter. Gilliland Jeter Wealth Management LLC purchased a new stake in Philip Morris International in the fourth quarter valued at about $1,251,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $857,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.17 during mid-day trading on Friday, reaching $118.06. The company had a trading volume of 3,707,409 shares, compared to its average volume of 5,379,225. The stock has a market capitalization of $183.53 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $119.06. The stock’s 50 day moving average is $107.72 and its 200-day moving average is $98.96.

Philip Morris International (NYSE:PM) last released 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 company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $1.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.40%. Philip Morris International’s payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

PM has been the subject of several research reports. Stifel Nicolaus lifted their price objective 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 increased their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Barclays increased their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $109.80.

Insider Buying and Selling at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the company’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 sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on 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 transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.