Philip Morris International Inc. (NYSE:PM) Stake Lessened by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 87,400 shares of the company’s stock after selling 800 shares during the quarter. Cornerstone Advisors LLC’s holdings in Philip Morris International were worth $8,856,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC lifted its holdings in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC lifted its stake in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC boosted 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. Boyd Watterson Asset Management LLC OH grew its position in Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the second quarter valued at $34,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.8 %

Shares of NYSE:PM opened at $125.62 on Monday. The business has a fifty day simple moving average of $116.31 and a 200 day simple moving average of $103.64. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The firm has a market cap of $195.28 billion, a price-to-earnings ratio of 24.54, 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 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 business 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 company earned $1.60 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.30%. Philip Morris International’s dividend payout ratio is 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group lifted their target price on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.05.

Insider Activity

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

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.