Philip Morris International Inc. (NYSE:PM) Stock Holdings Cut by Fortem Financial Group LLC

Fortem Financial Group LLC lessened its position in Philip Morris International Inc. (NYSE:PM) by 1.9% during the second quarter, Holdings Channel reports. The institutional investor owned 16,697 shares of the company’s stock after selling 323 shares during the quarter. Fortem Financial Group LLC’s holdings in Philip Morris International were worth $1,692,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Absher Wealth Management LLC grew its position in Philip Morris International by 2.4% in the second quarter. Absher Wealth Management LLC now owns 4,961 shares of the company’s stock worth $503,000 after buying an additional 118 shares during the last quarter. Founders Financial Securities LLC raised its position in shares of Philip Morris International by 17.6% during the second quarter. Founders Financial Securities LLC now owns 2,919 shares of the company’s stock worth $296,000 after purchasing an additional 437 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Philip Morris International by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 133,530 shares of the company’s stock valued at $13,531,000 after purchasing an additional 777 shares during the last quarter. Oxinas Partners Wealth Management LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $228,000. Finally, Octavia Wealth Advisors LLC lifted its stake in Philip Morris International by 11.6% during the second quarter. Octavia Wealth Advisors LLC now owns 26,365 shares of the company’s stock valued at $2,706,000 after buying an additional 2,744 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PM shares. Barclays increased their target price on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $111.90.

Philip Morris International Trading Up 2.0 %

NYSE PM opened at $125.72 on Wednesday. The company has a market cap of $195.47 billion, a P/E ratio of 24.55, a P/E/G ratio of 2.41 and a beta of 0.58. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $126.18. The company has a fifty day simple moving average of $112.42 and a 200 day simple moving average of $101.64.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates 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 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Equities research analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 4.14%. Philip Morris International’s dividend payout ratio is 101.56%.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the business’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 transaction 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 SEC, which is accessible through the SEC website. 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 firm’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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $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 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.