Philip Morris International Inc. (NYSE:PM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Philip Morris International Inc. (NYSE:PM) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,237,950 shares of the company’s stock after selling 4,513 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of Philip Morris International worth $226,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Longfellow Investment Management Co. LLC boosted its holdings in Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after buying an additional 88 shares in the last quarter. Dearborn Partners LLC boosted its stake in shares of Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after acquiring an additional 92 shares in the last quarter. Cahill Financial Advisors Inc. grew its position in shares of Philip Morris International by 4.5% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after acquiring an additional 99 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its stake in shares of Philip Morris International by 0.3% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.7 %

Philip Morris International stock opened at $120.84 on Friday. The company has a 50-day moving average price of $119.33 and a 200 day moving average price of $105.39. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The stock has a market cap of $187.88 billion, a P/E ratio of 23.60, a PEG ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. As a group, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio is 101.56%.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was 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 directly 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 is available at this link. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. UBS Group increased their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $119.14.

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.