CarsonAllaria Wealth Management Ltd. Reduces Stake in Philip Morris International Inc. (NYSE:PM)

CarsonAllaria Wealth Management Ltd. lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 17.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,368 shares of the company’s stock after selling 291 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Philip Morris International were worth $139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kessler Investment Group LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth $25,000. Boyd Watterson Asset Management LLC OH increased its holdings in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares in the last quarter. Fortitude Family Office LLC increased its holdings 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 purchasing an additional 116 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Philip Morris International in the 4th quarter worth $33,000. Finally, Northwest Financial Advisors bought a new stake in shares of Philip Morris International in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5 %

NYSE:PM traded up $0.54 during mid-day trading on Tuesday, hitting $118.99. 3,837,539 shares of the company traded hands, compared to its average volume of 5,359,104. The stock’s fifty day moving average price is $108.32 and its 200-day moving average price is $99.38. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $119.10. The firm has a market cap of $184.98 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last released its quarterly earnings results 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 business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts predict that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.37%. Philip Morris International’s payout ratio is 101.56%.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the company’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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s 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 completion of the sale, the insider now owns 85,629 shares in the company, 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.

Wall Street Analyst Weigh In

A number of analysts have commented on PM shares. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus lifted their price objective on 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 lifted their price objective on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted 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. One 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.