AE Wealth Management LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

AE Wealth Management LLC trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 248,448 shares of the company’s stock after selling 42,375 shares during the period. AE Wealth Management LLC’s holdings in Philip Morris International were worth $25,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PM. Gilbert & Cook Inc. raised its holdings in shares of Philip Morris International by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock valued at $1,030,000 after purchasing an additional 404 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $460,000. EverSource Wealth Advisors LLC increased its holdings in Philip Morris International by 5.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,123 shares of the company’s stock valued at $482,000 after buying an additional 268 shares during the last quarter. Tidemark LLC purchased a new stake in Philip Morris International during the fourth quarter valued at approximately $61,000. Finally, FineMark National Bank & Trust increased its holdings in Philip Morris International by 1.3% during the fourth quarter. FineMark National Bank & Trust now owns 33,351 shares of the company’s stock valued at $3,138,000 after buying an additional 413 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s 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 completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the 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 owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Price Performance

Shares of NYSE PM opened at $119.77 on Friday. The firm has a fifty day moving average price of $117.87 and a 200-day moving average price of $104.35. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The stock has a market cap of $186.19 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping 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 firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be given 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 of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.51%. Philip Morris International’s dividend payout ratio is currently 105.47%.

Analyst Ratings Changes

PM has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. UBS Group upped their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America increased 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 note on Wednesday, September 4th. One 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 currently has an average 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.