Kowal Investment Group LLC Sells 3,707 Shares of Philip Morris International Inc. (NYSE:PM)

Kowal Investment Group LLC trimmed its position in Philip Morris International Inc. (NYSE:PM) by 28.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,148 shares of the company’s stock after selling 3,707 shares during the quarter. Kowal Investment Group LLC’s holdings in Philip Morris International were worth $927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC raised its position in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC raised its holdings in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after acquiring an additional 89 shares during the period. LRI Investments LLC lifted its position in shares of Philip Morris International by 1.5% in the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after acquiring an additional 92 shares in the last quarter. Cahill Financial Advisors Inc. boosted its stake in shares of Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after acquiring an additional 99 shares during the period. Finally, Pekin Hardy Strauss Inc. grew its position in shares of Philip Morris International by 0.3% during the second quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock worth $2,930,000 after purchasing an additional 99 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 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 at this link. In other news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction, the insider now directly 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 at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several recent analyst reports. Barclays lifted their target price 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. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America upped their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $117.05.

Philip Morris International Stock Performance

NYSE PM opened at $120.79 on Friday. The business’s 50 day moving average price is $118.17 and its 200-day moving average price is $104.66. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company has a market cap 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 posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 6.45 EPS 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. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.47%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Philip Morris International Company 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.