TIAA Trust National Association Reduces Stock Holdings in Philip Morris International Inc. (NYSE:PM)

TIAA Trust National Association reduced its stake in Philip Morris International Inc. (NYSE:PM) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,425 shares of the company’s stock after selling 456 shares during the period. TIAA Trust National Association’s holdings in Philip Morris International were worth $5,414,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in shares of Philip Morris International by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock valued at $1,030,000 after buying an additional 404 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Philip Morris International by 64.6% in the fourth quarter. Fisher Asset Management LLC now owns 19,910 shares of the company’s stock valued at $1,873,000 after buying an additional 7,815 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Philip Morris International by 1.4% in the fourth quarter. Spire Wealth Management now owns 21,156 shares of the company’s stock valued at $1,953,000 after buying an additional 292 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Philip Morris International by 14.4% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 9,674 shares of the company’s stock valued at $910,000 after buying an additional 1,217 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Philip Morris International by 52.6% in the fourth quarter. Private Advisor Group LLC now owns 79,082 shares of the company’s stock valued at $7,440,000 after buying an additional 27,258 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of the 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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 $9,877,305.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 owns 158,447 shares in the company, valued at $17,906,095.47. 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 a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America upped their target price on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays increased their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $109.80.

Philip Morris International Trading Up 2.0 %

Shares of PM opened at $125.72 on Wednesday. The firm’s 50-day moving average is $112.42 and its two-hundred day moving average is $101.64. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $126.18. The firm has a market capitalization of $195.47 billion, a P/E ratio of 24.55, a PEG ratio of 2.41 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared 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 was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.14%. Philip Morris International’s dividend payout ratio is presently 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.