Oldfield Partners LLP Has $1.16 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Oldfield Partners LLP trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,400 shares of the company’s stock after selling 1,800 shares during the period. Philip Morris International makes up about 0.2% of Oldfield Partners LLP’s holdings, making the stock its 22nd biggest position. Oldfield Partners LLP’s holdings in Philip Morris International were worth $1,155,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its position in Philip Morris International by 0.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 740,903 shares of the company’s stock worth $75,076,000 after purchasing an additional 4,408 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in Philip Morris International by 12.0% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 17,946 shares of the company’s stock worth $1,818,000 after purchasing an additional 1,919 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in Philip Morris International in the 2nd quarter worth about $2,270,000. Seven Mile Advisory acquired a new position in Philip Morris International in the 2nd quarter worth about $245,000. Finally, SilverOak Wealth Management LLC acquired a new position in Philip Morris International in the 2nd quarter worth about $213,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’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 value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available at 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. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 0.8 %

Shares of NYSE:PM opened at $125.62 on Monday. The business has a 50 day moving average price of $116.31 and a 200 day moving average price of $103.64. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22. The company has a market cap of $195.28 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.45 and a beta of 0.55.

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

Philip Morris International Increases Dividend

The company also recently declared 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. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.30%. Philip Morris International’s dividend payout ratio is 101.56%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Stifel Nicolaus upped their price target on 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 upped their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. 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 research note on Thursday, July 25th. Finally, Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the stock 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 assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.05.

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.