Huber Capital Management LLC Has $4.85 Million Position in Philip Morris International Inc. (NYSE:PM)

Huber Capital Management LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,859 shares of the company’s stock after selling 3,000 shares during the quarter. Philip Morris International comprises about 1.1% of Huber Capital Management LLC’s portfolio, making the stock its 29th largest holding. Huber Capital Management LLC’s holdings in Philip Morris International were worth $4,850,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC lifted its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Philip Morris International during the 2nd quarter worth approximately $25,000. Sachetta LLC boosted its stake in 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 purchasing an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH grew its holdings in 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 buying an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in 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 buying an additional 116 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price 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. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays raised their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. UBS Group increased their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Finally, Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 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 eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.05.

Insider Buying and Selling

In other Philip Morris International 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 value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s 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 completion of 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 legal 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 that occurred 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 sale, the insider now 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 owned by corporate insiders.

Philip Morris International Stock Performance

Shares of PM stock opened at $120.79 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The stock’s fifty day moving average price is $118.17 and its two-hundred day moving average price is $104.57. The company has a market cap of $187.77 billion, a PE ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. On average, equities analysts predict that Philip Morris International Inc. will post 6.45 EPS 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. Investors of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

About Philip Morris International

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.