King Luther Capital Management Corp Sells 994 Shares of Philip Morris International Inc. (NYSE:PM)

King Luther Capital Management Corp reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,264 shares of the company’s stock after selling 994 shares during the quarter. King Luther Capital Management Corp’s holdings in Philip Morris International were worth $4,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.4% during the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors boosted its position in shares of Philip Morris International by 1.5% during the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the period. Capital Research Global Investors boosted its position in shares of Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after buying an additional 1,800,864 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Philip Morris International by 0.6% during the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after buying an additional 77,820 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the SEC, which is available at 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 value of $1,038,150.00. Following the completion of the transaction, 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. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.9 %

Shares of NYSE PM opened at $120.79 on Friday. The firm has a market cap of $187.77 billion, a P/E ratio of 23.59, a price-to-earnings-growth 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 50 day moving average is $118.17 and its 200-day moving average is $104.66.

Philip Morris International (NYSE:PM) last posted 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $1.60 EPS. The company’s revenue was up 5.6% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. 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. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. Bank of America upped 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. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays increased 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. Stifel Nicolaus increased their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.