EverSource Wealth Advisors LLC Buys 1,333 Shares of Philip Morris International Inc. (NYSE:PM)

EverSource Wealth Advisors LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 24.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,846 shares of the company’s stock after purchasing an additional 1,333 shares during the period. EverSource Wealth Advisors LLC’s holdings in Philip Morris International were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Fairscale Capital LLC bought a new position in Philip Morris International during the 2nd quarter valued at about $184,000. First City Capital Management Inc. boosted its position in shares of Philip Morris International by 15.1% during the second quarter. First City Capital Management Inc. now owns 5,624 shares of the company’s stock valued at $570,000 after buying an additional 736 shares during the period. Gabelli Funds LLC grew its stake in shares of Philip Morris International by 2.5% during the second quarter. Gabelli Funds LLC now owns 289,350 shares of the company’s stock valued at $29,320,000 after buying an additional 7,000 shares during the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of Philip Morris International by 1.8% in the second quarter. Fidelis Capital Partners LLC now owns 9,055 shares of the company’s stock worth $918,000 after buying an additional 157 shares during the period. Finally, Frank Rimerman Advisors LLC raised its holdings in shares of Philip Morris International by 125,666.7% in the second quarter. Frank Rimerman Advisors LLC now owns 30,184 shares of the company’s stock worth $3,059,000 after buying an additional 30,160 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PM. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Stifel Nicolaus raised their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group boosted their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Barclays raised their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.05.

Philip Morris International Stock Performance

NYSE PM opened at $121.09 on Tuesday. The company has a market cap of $188.24 billion, a PE ratio of 23.65, a P/E/G ratio of 2.45 and a beta of 0.55. The firm’s 50 day moving average price is $118.49 and its 200-day moving average price is $104.97. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a $1.35 dividend. The ex-dividend date is Thursday, September 26th. 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 yield of 4.46%. Philip Morris International’s payout ratio is currently 105.47%.

Insider Buying and Selling at Philip Morris International

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

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.