Legacy Financial Advisors Inc. Increases Position in Philip Morris International Inc. (NYSE:PM)

Legacy Financial Advisors Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,094 shares of the company’s stock after purchasing an additional 343 shares during the period. Legacy Financial Advisors Inc.’s holdings in Philip Morris International were worth $719,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Iron Horse Wealth Management LLC raised its stake 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 valued at $25,000 after buying an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Philip Morris International during the second quarter valued at $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 worth $27,000 after purchasing an additional 105 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake 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 worth $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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. 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 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 directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased 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. UBS Group increased their target price on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Barclays boosted 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. Stifel Nicolaus increased their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Trading Up 0.9 %

PM opened at $120.79 on Friday. The company’s 50 day moving average is $118.17 and its 200 day moving average is $104.57. The company has a market cap of $187.77 billion, a price-to-earnings ratio of 23.59, a PEG 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 issued 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 firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, 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. Stockholders of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.47%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 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.