Philip Morris International Inc. (NYSE:PM) Stock Position Reduced by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,839 shares of the company’s stock after selling 180 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Philip Morris International were worth $3,429,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank of Nova Scotia increased its stake in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after purchasing an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Philip Morris International during the first quarter worth about $5,634,000. Axxcess Wealth Management LLC lifted its holdings in Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Nebula Research & Development LLC acquired a new position in Philip Morris International in the fourth quarter valued at approximately $857,000. Finally, Pinebridge Investments L.P. grew its holdings in shares of Philip Morris International by 99.5% during the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

NYSE PM opened at $120.79 on Friday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a market capitalization of $187.77 billion, a PE ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55. The company’s 50 day simple moving average is $118.17 and its 200 day simple moving average is $104.66.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Insider Buying and Selling

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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 report on Thursday, July 25th. Bank of America boosted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group increased their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

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.