Philip Morris International Inc. (NYSE:PM) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Philip Morris International Inc. (NYSE:PM) by 24.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,820 shares of the company’s stock after acquiring an additional 30,177 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Philip Morris International were worth $15,587,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. LRI Investments LLC increased its stake in shares of Philip Morris International by 1.5% during the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after acquiring an additional 92 shares during the period. Bar Harbor Wealth Management raised its stake in shares of Philip Morris International by 2.6% in the 2nd quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock worth $397,000 after buying an additional 100 shares in the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Philip Morris International by 2.8% in the first quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock valued at $354,000 after buying an additional 104 shares during the period. Smallwood Wealth Investment Management LLC boosted its stake in Philip Morris International by 0.6% during the first quarter. Smallwood Wealth Investment Management LLC now owns 17,495 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares in the last quarter. Finally, 1ST Source Bank grew its holdings in Philip Morris International by 4.1% during the first quarter. 1ST Source Bank now owns 2,742 shares of the company’s stock worth $251,000 after acquiring an additional 108 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the business’s 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 completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction 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 completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the 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 transaction, the insider now directly 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.

Philip Morris International Trading Up 0.0 %

Shares of Philip Morris International stock opened at $122.58 on Friday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $123.05. The company has a market cap of $190.56 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.35 and a beta of 0.58. The stock has a 50-day moving average price of $110.62 and a 200 day moving average price of $100.60.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during 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 firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 earnings per share. On average, equities analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PM shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Stifel Nicolaus raised their target price 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. Bank of America upped their price target on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays boosted their target price on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.80.

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.