Philip Morris International Inc. (NYSE:PM) Stock Holdings Lessened by Financial Advocates Investment Management

Financial Advocates Investment Management trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 9.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,188 shares of the company’s stock after selling 1,484 shares during the quarter. Financial Advocates Investment Management’s holdings in Philip Morris International were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC raised its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares in the last quarter. Fortitude Family Office LLC grew its holdings in Philip Morris International by 57.4% during the second 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 last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in Philip Morris International by 250.0% during the first 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 last quarter. Olistico Wealth LLC acquired a new position in Philip Morris International during the second quarter valued at approximately $34,000. Finally, Northwest Financial Advisors acquired a new position in Philip Morris International during the fourth quarter valued at approximately $33,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of PM traded down $0.38 during mid-day trading on Thursday, hitting $122.19. 700,662 shares of the company’s stock were exchanged, compared to its average volume of 5,271,284. The company has a market cap of $189.95 billion, a PE ratio of 23.84, a P/E/G ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $123.05. The company has a 50-day simple moving average of $110.19 and a 200 day simple moving average of $100.44.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is 101.56%.

Analyst Ratings Changes

Several brokerages have commented on PM. Stifel Nicolaus increased their price target on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Bank of America lifted their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective 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, Barclays lifted their price target on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.80.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’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 transaction, 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 can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 completion of the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.