Philip Morris International Inc. (NYSE:PM) Shares Sold by Independent Franchise Partners LLP

Independent Franchise Partners LLP cut its position in Philip Morris International Inc. (NYSE:PM) by 5.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,702,152 shares of the company’s stock after selling 380,414 shares during the quarter. Philip Morris International comprises about 6.3% of Independent Franchise Partners LLP’s portfolio, making the stock its 5th biggest holding. Independent Franchise Partners LLP owned approximately 0.43% of Philip Morris International worth $679,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Gilbert & Cook Inc. increased its holdings in shares of Philip Morris International by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after purchasing an additional 404 shares during the period. Clearbridge Investments LLC acquired a new stake in Philip Morris International during the fourth quarter worth approximately $460,000. TCW Group Inc. bought a new position in Philip Morris International during the 4th quarter worth $2,305,000. HCR Wealth Advisors raised its holdings in Philip Morris International by 34.4% in the 4th quarter. HCR Wealth Advisors now owns 6,596 shares of the company’s stock valued at $621,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Skopos Labs Inc. bought a new stake in shares of Philip Morris International during the 4th quarter valued at $565,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was 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 approximately $9,877,305.15. The sale was disclosed in a document filed 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 Philip Morris International stock in a transaction 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 sale, the insider now directly 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 SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Philip Morris International Price Performance

Shares of PM opened at $120.79 on Friday. The business has a 50-day moving average of $118.17 and a 200-day moving average of $104.66. The company has a market capitalization of $187.77 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $9.19 billion. During the same quarter last year, the business earned $1.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. 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. Philip Morris International’s dividend payout ratio is 105.47%.

Philip Morris International Company 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.