Aprio Wealth Management LLC Sells 1,274 Shares of Philip Morris International Inc. (NYSE:PM)

Aprio Wealth Management LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,817 shares of the company’s stock after selling 1,274 shares during the quarter. Aprio Wealth Management LLC’s holdings in Philip Morris International were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PM. 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 during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH raised its position in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the period. Finally, Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.1 %

NYSE PM opened at $118.75 on Wednesday. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The company has a market capitalization of $184.60 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The firm’s 50 day moving average is $120.57 and its 200-day moving average is $106.80.

Philip Morris International (NYSE:PM) last posted 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 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 the consensus estimate of $9.19 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS 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. Investors 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 a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.55%. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Insider Activity 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 shares were 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 directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group increased their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.41.

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.