Philip Morris International Inc. (NYSE:PM) Shares Sold by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,939 shares of the company’s stock after selling 32,415 shares during the period. Philip Morris International makes up about 1.6% of Coronation Fund Managers Ltd.’s holdings, making the stock its 22nd biggest position. Coronation Fund Managers Ltd.’s holdings in Philip Morris International were worth $35,257,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Longfellow Investment Management Co. LLC grew its position in Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares in the last quarter. Dearborn Partners LLC increased its stake in Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after buying an additional 89 shares during the period. LRI Investments LLC increased its stake in Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after buying an additional 92 shares during the period. Cahill Financial Advisors Inc. lifted its holdings in Philip Morris International by 4.5% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after buying an additional 99 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its position in Philip Morris International by 0.3% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after buying an additional 99 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $120.58 on Wednesday. The company’s fifty day moving average is $120.10 and its two-hundred day moving average is $106.10. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The stock has a market capitalization of $187.45 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS 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. Investors of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.48%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 105.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. UBS Group lifted their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. Bank of America increased their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Barclays lifted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, Stifel Nicolaus increased 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.68.

Insider Buying and Selling

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. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on 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 sale, 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 SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.