Philip Morris International Inc. (NYSE:PM) Shares Sold by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,307 shares of the company’s stock after selling 807 shares during the quarter. Philip Morris International comprises approximately 1.5% of Semmax Financial Advisors Inc.’s holdings, making the stock its 15th biggest holding. Semmax Financial Advisors Inc.’s holdings in Philip Morris International were worth $4,996,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PM. Bank of Nova Scotia raised its holdings in shares of Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares during the period. Diversify Advisory Services LLC acquired a new position in Philip Morris International during the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC grew its stake in Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International in the fourth quarter worth $857,000. Finally, Pinebridge Investments L.P. lifted its holdings in shares of Philip Morris International by 99.5% during the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after acquiring an additional 26,960 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

NYSE:PM opened at $121.09 on Tuesday. The company has a market capitalization of $188.24 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth 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 stock has a 50-day simple moving average of $118.49 and a 200 day simple moving average of $104.97.

Philip Morris International (NYSE:PM) last posted its quarterly 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 analyst estimates 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 was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. 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. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

Insider Transactions at Philip Morris International

In related news, 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 owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, 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. Insiders own 0.13% of the company’s stock.

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.