Barrow Hanley Mewhinney & Strauss LLC Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,091,723 shares of the company’s stock after selling 249,339 shares during the period. Philip Morris International makes up about 1.4% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 29th biggest holding. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.26% of Philip Morris International worth $414,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake in shares of Philip Morris International by 684.4% in the second 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 during the period. Strategic Financial Concepts LLC purchased a new position in Philip Morris International in the 2nd quarter valued at about $25,000. Sachetta LLC grew its stake in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC increased its position in shares of Philip Morris International by 57.4% during the second 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 last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. UBS Group lifted their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus upped their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.05.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 directly 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 the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, 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 insiders.

Philip Morris International Stock Up 0.9 %

Shares of NYSE PM opened at $120.79 on Friday. The firm’s 50-day moving average price is $118.17 and its two-hundred day moving average price is $104.66. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The stock has a market capitalization of $187.77 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.19 billion. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. As a group, equities research analysts expect 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. Investors of record on Thursday, September 26th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

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.