Luts & Greenleigh Group Inc. Acquires Shares of 8,359 Philip Morris International Inc. (NYSE:PM)

Luts & Greenleigh Group Inc. bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,359 shares of the company’s stock, valued at approximately $847,000. Philip Morris International makes up about 0.9% of Luts & Greenleigh Group Inc.’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC boosted its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its position in shares of Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PM. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted 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. UBS Group increased their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their price target 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. Finally, Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Price Performance

Shares of NYSE PM opened at $125.99 on Tuesday. 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 $195.86 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a 50 day simple moving average of $116.78 and a 200 day simple moving average of $103.89.

Philip Morris International (NYSE:PM) last released 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. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. 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 annualized dividend and a yield of 4.29%. Philip Morris International’s payout ratio is presently 101.56%.

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.