EP Wealth Advisors LLC Has $2.40 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

EP Wealth Advisors LLC boosted its position in Philip Morris International Inc. (NYSE:PM) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,692 shares of the company’s stock after acquiring an additional 946 shares during the quarter. EP Wealth Advisors LLC’s holdings in Philip Morris International were worth $2,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its stake in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Philip Morris International in the 2nd quarter worth about $25,000. Sachetta LLC boosted its stake in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of PM stock opened at $120.58 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The stock has a 50 day simple moving average of $120.10 and a two-hundred day simple moving average of $106.10. The company has a market cap of $187.45 billion, a P/E ratio of 23.55, a PEG ratio of 2.37 and a beta of 0.55.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders 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 is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.48%. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PM shares. 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. Barclays boosted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average price target of $120.68.

Insider Activity at Philip Morris International

In other Philip Morris International 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 transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on 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 directly 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.