Profund Advisors LLC Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Profund Advisors LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,310 shares of the company’s stock after selling 640 shares during the quarter. Profund Advisors LLC’s holdings in Philip Morris International were worth $1,551,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Alaethes Wealth LLC purchased a new position in shares of Philip Morris International during the 2nd quarter valued at approximately $1,444,000. Legacy Financial Advisors Inc. grew its position in Philip Morris International by 5.1% during the second quarter. Legacy Financial Advisors Inc. now owns 7,094 shares of the company’s stock valued at $719,000 after buying an additional 343 shares during the period. Summit Trail Advisors LLC increased its holdings in Philip Morris International by 273.4% in the second quarter. Summit Trail Advisors LLC now owns 48,077 shares of the company’s stock valued at $4,934,000 after buying an additional 35,202 shares in the last quarter. Sei Investments Co. raised its position in shares of Philip Morris International by 5.8% in the second quarter. Sei Investments Co. now owns 660,948 shares of the company’s stock worth $66,975,000 after acquiring an additional 35,966 shares during the period. Finally, Ranch Capital Advisors Inc. grew its position in shares of Philip Morris International by 1.5% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 8,243 shares of the company’s stock valued at $842,000 after acquiring an additional 122 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Bank of America increased their price target 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. UBS Group boosted their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. increased their price objective 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. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $117.05.

Insiders Place Their Bets

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

Philip Morris International Stock Performance

Philip Morris International stock opened at $121.09 on Tuesday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The company’s 50 day simple moving average is $118.49 and its 200-day simple moving average is $104.97. The company has a market capitalization of $188.24 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates 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 for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. Equities analysts expect 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. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.46%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio 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.