Philip Morris International Inc. (NYSE:PM) Position Lowered by Auxier Asset Management

Auxier Asset Management trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,120 shares of the company’s stock after selling 6,092 shares during the period. Philip Morris International accounts for 3.4% of Auxier Asset Management’s portfolio, making the stock its 3rd largest holding. Auxier Asset Management’s holdings in Philip Morris International were worth $21,697,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Financial Advisors Inc. increased its stake in Philip Morris International by 5.1% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,094 shares of the company’s stock worth $719,000 after acquiring an additional 343 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of Philip Morris International by 273.4% in the second quarter. Summit Trail Advisors LLC now owns 48,077 shares of the company’s stock valued at $4,934,000 after purchasing an additional 35,202 shares in the last quarter. Sei Investments Co. increased its position in Philip Morris International by 5.8% in the second quarter. Sei Investments Co. now owns 660,948 shares of the company’s stock worth $66,975,000 after purchasing an additional 35,966 shares during the last quarter. Ranch Capital Advisors Inc. increased its position in Philip Morris International by 1.5% in the second quarter. Ranch Capital Advisors Inc. now owns 8,243 shares of the company’s stock worth $842,000 after purchasing an additional 122 shares during the last quarter. Finally, Waters Parkerson & CO. LLC raised its stake in Philip Morris International by 1.1% during the second quarter. Waters Parkerson & CO. LLC now owns 335,269 shares of the company’s stock valued at $33,973,000 after purchasing an additional 3,613 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PM shares. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group boosted their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Barclays raised their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Bank of America boosted their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $117.05.

Philip Morris International Stock Up 0.9 %

Shares of Philip Morris International stock opened at $120.79 on Friday. The stock’s fifty day moving average is $118.17 and its two-hundred day moving average is $104.57. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22. The company has a market capitalization of $187.77 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS 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 firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 105.47%.

Insider Activity at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.