Philip Morris International Inc. (NYSE:PM) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 11.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 584,545 shares of the company’s stock after selling 77,081 shares during the period. Philip Morris International comprises about 2.0% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings, making the stock its 9th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Philip Morris International were worth $59,232,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PM. Iron Horse Wealth Management LLC boosted its holdings in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of Philip Morris International by 250.0% in the first 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 lifted its holdings 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 purchasing an additional 116 shares in the last quarter. Northwest Financial Advisors bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $33,000. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 completion of 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PM. Barclays increased their price target 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. Bank of America increased their price target on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. 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 report on Thursday, July 25th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, 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 report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.80.

Philip Morris International Stock Up 0.6 %

NYSE:PM traded up $0.74 during trading hours on Friday, hitting $123.29. 5,602,949 shares of the company’s stock traded hands, compared to its average volume of 4,567,073. The firm has a market cap of $191.69 billion, a P/E ratio of 24.08, a P/E/G ratio of 2.41 and a beta of 0.58. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $123.45. The business’s fifty day simple moving average is $111.52 and its two-hundred day simple moving average is $101.06.

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, beating 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 during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 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.