Parallel Advisors LLC Purchases 400 Shares of Philip Morris International Inc. (NYSE:PM)

Parallel Advisors LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,730 shares of the company’s stock after buying an additional 400 shares during the quarter. Parallel Advisors LLC’s holdings in Philip Morris International were worth $1,391,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd raised its stake in Philip Morris International by 233.2% in the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 157,169 shares of the company’s stock worth $15,926,000 after purchasing an additional 110,000 shares in the last quarter. Kuhn & Co Investment Counsel acquired a new stake in Philip Morris International during the second quarter worth approximately $216,000. Hardin Capital Partners LLC bought a new position in Philip Morris International during the 2nd quarter worth $284,000. Meeder Advisory Services Inc. raised its holdings in Philip Morris International by 39.6% in the 2nd quarter. Meeder Advisory Services Inc. now owns 22,490 shares of the company’s stock valued at $2,279,000 after acquiring an additional 6,378 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Philip Morris International by 5.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,490,731 shares of the company’s stock valued at $254,196,000 after acquiring an additional 131,503 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, 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 value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated 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 transaction, the insider now owns 158,447 shares of the company’s stock, 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.

Philip Morris International Price Performance

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

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $1.60 earnings per share. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities research analysts predict 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. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays upped their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.05.

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.