Sei Investments Co. Buys 35,966 Shares of Philip Morris International Inc. (NYSE:PM)

Sei Investments Co. grew its stake in Philip Morris International Inc. (NYSE:PM) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,948 shares of the company’s stock after purchasing an additional 35,966 shares during the quarter. Sei Investments Co.’s holdings in Philip Morris International were worth $66,975,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after buying an additional 481,636 shares during the last quarter. Capital World Investors boosted its holdings 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 acquiring an additional 1,684,992 shares during the period. Capital Research Global Investors grew its position in shares of Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 77,820 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.9 %

NYSE PM opened at $120.79 on Friday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The firm has a market capitalization of $187.77 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55. The firm’s 50 day simple moving average is $118.17 and its 200 day simple moving average is $104.66.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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 posted $1.60 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 105.47%.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PM. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. UBS Group raised 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 report on Monday, September 9th. Barclays boosted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One research 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 MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $117.05.

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.