973 Shares in Philip Morris International Inc. (NYSE:PM) Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. acquired a new position in Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 973 shares of the company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia boosted its position in Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Philip Morris International in the 1st quarter worth $5,634,000. Axxcess Wealth Management LLC boosted its position in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Philip Morris International in the 4th quarter worth $1,251,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International in the 4th quarter worth $857,000. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price 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. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America lifted their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Buying and Selling

In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated 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 sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.63 on Tuesday, hitting $114.19. The company’s stock had a trading volume of 6,274,484 shares, compared to its average volume of 5,443,429. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $119.06. The firm has a fifty day moving average price of $105.11 and a 200-day moving average price of $97.43. The company has a market capitalization of $177.51 billion, a price-to-earnings ratio of 22.30, 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 data 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. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the firm posted $1.60 EPS. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.55%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is 101.56%.

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.