Lmcg Investments LLC Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Lmcg Investments LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 9.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,324 shares of the company’s stock after selling 825 shares during the period. Lmcg Investments LLC’s holdings in Philip Morris International were worth $843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its stake in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the period. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC grew its position in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International during the 2nd quarter valued at $34,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PM. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays boosted their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, UBS Group upped their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.05.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $123.23 on Wednesday. The company has a market capitalization of $191.57 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $128.22. The firm’s 50 day simple moving average is $117.21 and its two-hundred day simple moving average is $104.13.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. During the same quarter in the previous year, the company earned $1.60 EPS. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share 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. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.38%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were 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 directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 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.