Thoroughbred Financial Services LLC Boosts Stake in Philip Morris International Inc. (NYSE:PM)

Thoroughbred Financial Services LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 29.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 7,100 shares of the company’s stock after buying an additional 1,631 shares during the period. Thoroughbred Financial Services LLC’s holdings in Philip Morris International were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC increased its position in Philip Morris International by 684.4% during the 2nd 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. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the second quarter valued at approximately $25,000. Sachetta LLC lifted its stake in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH boosted its position 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 last quarter. Finally, Fortitude Family Office LLC grew its stake in 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 acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent analyst reports. UBS Group increased their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $117.05.

Philip Morris International Stock Up 0.8 %

Shares of PM stock opened at $125.62 on Monday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The firm’s 50 day moving average price is $116.31 and its two-hundred day moving average price is $103.64. The stock has a market cap of $195.28 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insider Buying and Selling

In other Philip Morris International 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 completion of 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 this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the 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 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 document filed with the Securities & Exchange Commission, which is available at 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 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 owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.