Bradley Foster & Sargent Inc. CT Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

Bradley Foster & Sargent Inc. CT trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 0.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,481 shares of the company’s stock after selling 89 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Philip Morris International were worth $2,481,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PM. Iron Horse Wealth Management LLC grew its stake in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC grew its position in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% in the 2nd 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 period. Boyd Watterson Asset Management LLC OH lifted its position in Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 1.8 %

Shares of PM stock opened at $120.96 on Thursday. The company’s fifty day moving average price is $117.57 and its 200-day moving average price is $104.25. The stock has a market cap of $188.04 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

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. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.46%. Philip Morris International’s payout ratio is presently 105.47%.

Insiders Place Their Bets

In other 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target 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. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays increased their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.05.

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.