Verity & Verity LLC Sells 2,189 Shares of Philip Morris International Inc. (NYSE:PM)

Verity & Verity LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,150 shares of the company’s stock after selling 2,189 shares during the period. Verity & Verity LLC’s holdings in Philip Morris International were worth $1,636,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Diversify Advisory Services LLC purchased a new position in Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC increased its position in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Philip Morris International in the fourth quarter valued at approximately $857,000. Pinebridge Investments L.P. lifted its holdings in shares of Philip Morris International by 99.5% during the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after acquiring an additional 26,960 shares during the last quarter. Finally, Duality Advisers LP grew its position in Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after acquiring an additional 24,093 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent research reports. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Barclays raised their price target on 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 lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $120.68.

Insider Buying and Selling at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, 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 owned by corporate insiders.

Philip Morris International Price Performance

PM opened at $120.58 on Wednesday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22. The stock has a 50-day moving average price of $120.10 and a 200-day moving average price of $106.10. The firm has a market cap of $187.45 billion, a PE ratio of 23.55, a P/E/G ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company 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 firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a $1.35 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.48%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. 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.