Pinnacle Wealth Management Advisory Group LLC Acquires 1,268 Shares of Philip Morris International Inc. (NYSE:PM)

Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 36.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,730 shares of the company’s stock after purchasing an additional 1,268 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Philip Morris International were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fullcircle Wealth LLC bought a new position in Philip Morris International in the second quarter valued at about $1,046,000. Kanawha Capital Management LLC lifted its holdings in Philip Morris International by 17.4% in the second quarter. Kanawha Capital Management LLC now owns 8,496 shares of the company’s stock valued at $861,000 after acquiring an additional 1,258 shares during the period. Banque Pictet & Cie SA lifted its holdings in Philip Morris International by 4.9% in the second quarter. Banque Pictet & Cie SA now owns 173,948 shares of the company’s stock valued at $17,626,000 after acquiring an additional 8,081 shares during the period. First Merchants Corp bought a new position in Philip Morris International in the second quarter valued at about $967,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in Philip Morris International by 6.6% in the second quarter. Atlantic Union Bankshares Corp now owns 79,488 shares of the company’s stock valued at $8,055,000 after acquiring an additional 4,898 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in 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. JPMorgan Chase & Co. upped their price target on 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 upped their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their price target on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $109.80.

Insider Activity at Philip Morris International

In related 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 transaction 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 $17,906,095.47. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $0.05 during trading on Friday, hitting $120.15. 2,896,459 shares of the company’s stock were exchanged, compared to its average volume of 5,329,245. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $120.27. The business’s 50-day simple moving average is $109.39 and its 200 day simple moving average is $99.92. The company has a market cap of $186.78 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last released its 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. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business posted $1.60 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is presently 101.56%.

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.