Sigma Investment Counselors Inc. Sells 113 Shares of Philip Morris International Inc. (NYSE:PM)

Sigma Investment Counselors Inc. lowered its position in Philip Morris International Inc. (NYSE:PM) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,323 shares of the company’s stock after selling 113 shares during the period. Sigma Investment Counselors Inc.’s holdings in Philip Morris International were worth $337,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in shares of Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $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 valued at about $5,634,000. Axxcess Wealth Management LLC boosted its position in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after buying an additional 6,974 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Philip Morris International during the fourth quarter worth about $1,251,000. Finally, Nebula Research & Development LLC acquired a new stake in Philip Morris International in the 4th quarter valued at approximately $857,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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 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 sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Philip Morris International 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 transaction, the insider now directly 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 is available through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock traded up $0.05 during mid-day trading on Friday, reaching $120.15. 2,896,459 shares of the company were exchanged, compared to its average volume of 5,329,245. The company has a fifty day simple moving average of $109.39 and a 200-day simple moving average of $99.92. The firm has a market cap of $186.78 billion, a PE ratio of 23.47, a PEG ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $120.27.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results 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. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.60 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.41 earnings per share 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 given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America raised their target price on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of 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, Barclays upped their target price on shares of 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 issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $109.80.

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.