Ritholtz Wealth Management Has $2.90 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Ritholtz Wealth Management grew its stake in Philip Morris International Inc. (NYSE:PM) by 54.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,607 shares of the company’s stock after purchasing an additional 10,082 shares during the period. Ritholtz Wealth Management’s holdings in Philip Morris International were worth $2,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Bank of Nova Scotia raised its stake in shares of Philip Morris International by 283.5% in the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after purchasing an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Philip Morris International in the 1st quarter valued at $5,634,000. Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of Philip Morris International during the 4th quarter worth about $857,000. Finally, Pinebridge Investments L.P. boosted its position in shares of Philip Morris International by 99.5% during the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after acquiring an additional 26,960 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PM. Stifel Nicolaus lifted their price objective on Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Bank of America boosted their price target on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays increased their price objective on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. 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 research note on Thursday, July 25th. 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $109.80.

Philip Morris International Trading Up 0.6 %

NYSE PM opened at $123.29 on Monday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $123.45. The firm has a market capitalization of $191.69 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.41 and a beta of 0.58. The firm’s 50 day simple moving average is $111.52 and its 200 day simple moving average is $101.15.

Philip Morris International (NYSE:PM) last released its quarterly 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. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 earnings per share. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share 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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is 101.56%.

Insider Activity at Philip Morris International

In other Philip Morris International news, 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 completion of the sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction of $2,260,200.00. Following the transaction, the insider now directly 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 this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on 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 completion of 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. 0.13% of the stock is owned by corporate insiders.

Philip Morris International 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.