Ieq Capital LLC Grows Stock Position in Philip Morris International Inc. (NYSE:PM)

Ieq Capital LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,310 shares of the company’s stock after purchasing an additional 4,692 shares during the period. Ieq Capital LLC’s holdings in Philip Morris International were worth $5,098,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC grew its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International during the second quarter worth approximately $25,000. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its stake in shares of Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings 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 in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of NYSE PM opened at $120.79 on Friday. The firm has a market capitalization of $187.77 billion, a PE ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The business’s fifty day moving average price is $118.17 and its two-hundred day moving average price is $104.57.

Philip Morris International (NYSE:PM) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Equities research analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm 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 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 dividend yield of 4.47%. Philip Morris International’s payout ratio is currently 105.47%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PM. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on 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 increased their target price on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Barclays upped their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.05.

Insider Transactions at Philip Morris International

In other Philip Morris International 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 transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the 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 owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated 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 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.

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.