Philip Morris International Inc. (NYSE:PM) Stock Holdings Lowered by D1 Capital Partners L.P.

D1 Capital Partners L.P. reduced its position in Philip Morris International Inc. (NYSE:PM) by 16.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,085,544 shares of the company’s stock after selling 1,158,812 shares during the period. Philip Morris International comprises approximately 10.4% of D1 Capital Partners L.P.’s holdings, making the stock its 2nd largest position. D1 Capital Partners L.P. owned approximately 0.39% of Philip Morris International worth $616,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Discovery Capital Management LLC CT purchased a new stake in shares of Philip Morris International during the second quarter valued at $21,137,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Philip Morris International by 24.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,846 shares of the company’s stock valued at $694,000 after acquiring an additional 1,333 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at about $184,000. First City Capital Management Inc. grew its stake in shares of Philip Morris International by 15.1% in the second quarter. First City Capital Management Inc. now owns 5,624 shares of the company’s stock worth $570,000 after acquiring an additional 736 shares during the period. Finally, Gabelli Funds LLC raised its holdings in shares of Philip Morris International by 2.5% during the second quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock valued at $29,320,000 after purchasing an additional 7,000 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $120.79 on Monday. The company 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 Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The firm’s 50 day simple moving average is $118.17 and its two-hundred day simple moving average is $104.76.

Philip Morris International (NYSE:PM) last released its earnings results 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. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the company earned $1.60 EPS. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend 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 (DPR) is currently 105.47%.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the 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 of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PM has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group upped their price objective on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.05.

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.