Carolinas Wealth Consulting LLC Has $1.16 Million Position in Philip Morris International Inc. (NYSE:PM)

Carolinas Wealth Consulting LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1,169.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,491 shares of the company’s stock after acquiring an additional 10,586 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Philip Morris International were worth $1,164,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bank of Nova Scotia grew its stake in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after buying an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Philip Morris International during the 1st quarter valued at $5,634,000. Axxcess Wealth Management LLC raised its position in Philip Morris International by 25.4% in 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. Nebula Research & Development LLC bought a new position in Philip Morris International in the 4th quarter valued at $857,000. Finally, Pinebridge Investments L.P. boosted its stake in Philip Morris International by 99.5% in the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after purchasing an additional 26,960 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.8 %

PM stock opened at $120.96 on Thursday. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22. The company has a market cap of $188.04 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The business’s fifty day moving average is $117.57 and its 200-day moving average is $104.25.

Philip Morris International (NYSE:PM) last released its earnings results 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. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.46%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, 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 transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred 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 sale, 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. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Barclays raised their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted 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. Finally, UBS Group upped 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 analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

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.