Smallwood Wealth Investment Management LLC Lowers Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Smallwood Wealth Investment Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,944 shares of the company’s stock after selling 1,551 shares during the period. Philip Morris International accounts for about 1.2% of Smallwood Wealth Investment Management LLC’s holdings, making the stock its 16th biggest position. Smallwood Wealth Investment Management LLC’s holdings in Philip Morris International were worth $1,616,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its holdings in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares in the last quarter. Kessler Investment Group LLC acquired a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its stake in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares during the period. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International in the second quarter worth $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the business’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 completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Philip Morris International stock traded up $1.16 during midday trading on Tuesday, hitting $122.41. 3,511,065 shares of the company were exchanged, compared to its average volume of 5,304,498. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $122.54. The company’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 $190.29 billion, a PE ratio of 23.91, 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. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS. On average, analysts expect that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued 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 dividend yield of 4.25%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America upped their target price 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. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays upped their price objective on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average 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.