Xponance Inc. Purchases 2,125 Shares of Philip Morris International Inc. (NYSE:PM)

Xponance Inc. grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,803 shares of the company’s stock after acquiring an additional 2,125 shares during the quarter. Xponance Inc.’s holdings in Philip Morris International were worth $18,929,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Nova Scotia boosted its position in shares of Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after buying an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC boosted its position in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $857,000. Finally, Pinebridge Investments L.P. boosted its position in shares of Philip Morris International by 99.5% during the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after buying an additional 26,960 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PM. 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 report on Monday, September 9th. UBS Group boosted their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Bank of America boosted 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. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus boosted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Price Performance

Shares of PM opened at $120.79 on Monday. The firm has a market cap of $187.77 billion, a PE ratio of 23.59, a PEG ratio of 2.45 and a beta of 0.55. The stock’s fifty day moving average price is $118.17 and its two-hundred day moving average price is $104.76. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 dividend yield of 4.47%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity at Philip Morris International

In related news, 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 sale, 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 accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.