Philip Morris International Inc. (NYSE:PM) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM) by 48.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,249 shares of the company’s stock after purchasing an additional 3,346 shares during the quarter. Benjamin Edwards Inc.’s holdings in Philip Morris International were worth $1,039,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PM. Iron Horse Wealth Management LLC raised its stake in shares of 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 during the last quarter. Sachetta LLC raised its position in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of 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 during the period. Boyd Watterson Asset Management LLC OH boosted its holdings 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 valued at $30,000 after acquiring an additional 230 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International during the second quarter worth about $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Philip Morris International stock opened at $120.79 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The firm has a market capitalization of $187.77 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The stock’s fifty day moving average is $118.17 and its two-hundred day moving average is $104.57.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate 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 business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change 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 dividend payout ratio is currently 105.47%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays lifted their price target 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. Bank of America increased their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.05.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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. Corporate insiders own 0.13% of the company’s stock.

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.