Pacer Advisors Inc. Has $52.36 Million Position in Philip Morris International Inc. (NYSE:PM)

Pacer Advisors Inc. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 516,767 shares of the company’s stock after selling 14,501 shares during the quarter. Pacer Advisors Inc.’s holdings in Philip Morris International were worth $52,364,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after acquiring an additional 481,636 shares in the last quarter. Capital World Investors lifted its holdings in Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares during the last quarter. Capital Research Global Investors boosted its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the period. Bank of New York Mellon Corp grew its holdings in Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after purchasing an additional 77,820 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.9 %

Shares of NYSE PM opened at $120.79 on Friday. The firm has a market capitalization 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 one year low of $87.23 and a one year high of $128.22. The business has a fifty day simple moving average of $118.17 and a 200 day simple moving average of $104.66.

Philip Morris International (NYSE:PM) last released 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. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research 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 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. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

Analyst Ratings Changes

A number of research firms recently issued reports on PM. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. 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 report on Monday, September 9th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.05.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the business’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 sale, the insider now 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 through this link. In other 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 transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.