Philip Morris International Inc. (NYSE:PM) Shares Sold by Cedar Wealth Management LLC

Cedar Wealth Management LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,580 shares of the company’s stock after selling 8,928 shares during the quarter. Philip Morris International comprises approximately 5.4% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 5th largest holding. Cedar Wealth Management LLC’s holdings in Philip Morris International were worth $16,778,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PM. GQG Partners LLC boosted its position in Philip Morris International by 5,006.0% during the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after acquiring an additional 5,841,696 shares during the last quarter. Capital Research Global Investors raised its holdings in Philip Morris International by 9.1% in the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after acquiring an additional 4,869,272 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth $282,785,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after acquiring an additional 2,599,684 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Philip Morris International by 5,045.1% in the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after buying an additional 2,081,472 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays increased their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price target 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 investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Trading Down 1.0 %

NYSE PM opened at $119.77 on Friday. 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 $186.19 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.45 and a beta of 0.55. The company has a 50 day moving average of $117.87 and a 200-day moving average of $104.35.

Philip Morris International (NYSE:PM) last posted its quarterly 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. The business 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%. Philip Morris International’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the business’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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.