Calamos Advisors LLC Has $55.31 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Calamos Advisors LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 545,869 shares of the company’s stock after selling 11,617 shares during the period. Calamos Advisors LLC’s holdings in Philip Morris International were worth $55,313,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Kessler Investment Group LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at about $25,000. Iron Horse Wealth Management LLC raised its holdings in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the period. Boyd Watterson Asset Management LLC OH raised its holdings in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the period. Finally, Northwest Financial Advisors bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America increased their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus increased their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.80.

Philip Morris International Stock Up 0.0 %

Shares of PM traded up $0.05 during mid-day trading on Friday, hitting $120.15. 2,896,459 shares of the company’s stock were exchanged, compared to its average volume of 5,329,245. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $120.27. The stock’s 50-day simple moving average is $109.39 and its 200-day simple moving average is $99.98. The firm has a market cap of $186.78 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

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, topping 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 net margin of 9.41% and a negative return on equity of 113.32%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.60 EPS. Analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’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 value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International 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 value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale 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 Philip Morris International stock in a transaction 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 transaction, 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. Company 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.