Philip Morris International Inc. (NYSE:PM) Shares Sold by Simmons Bank

Simmons Bank lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,173 shares of the company’s stock after selling 124 shares during the quarter. Simmons Bank’s holdings in Philip Morris International were worth $1,233,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased its stake in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the period. Boyd Watterson Asset Management LLC OH boosted 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 purchasing an additional 230 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of 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 buying an additional 116 shares in the last quarter. Northwest Financial Advisors acquired a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $33,000. Finally, Olistico Wealth LLC acquired a new stake in Philip Morris International during the 2nd quarter valued at $34,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.16 on Wednesday, reaching $122.57. The company’s stock had a trading volume of 4,343,746 shares, compared to its average volume of 5,298,713. The business’s fifty day moving average price is $109.77 and its 200 day moving average price is $100.21. The company has a market cap of $190.54 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $123.05.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.24%. Philip Morris International’s payout ratio is presently 101.56%.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their target price on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $109.80.

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.