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

Elite Wealth Management Inc. lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 27.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,221 shares of the company’s stock after selling 841 shares during the quarter. Elite Wealth Management Inc.’s holdings in Philip Morris International were worth $225,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its position 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 purchasing an additional 219 shares in the last quarter. Sachetta LLC lifted 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 valued at $27,000 after buying an additional 105 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in Philip Morris International during the 2nd quarter worth $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Down 1.0 %

Shares of NYSE PM opened at $119.77 on Friday. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The business’s 50 day moving average is $117.87 and its two-hundred day moving average is $104.35. 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.

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

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. 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 4.51%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the business’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 completion of the sale, the insider now 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 available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Philip Morris International 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.