Prime Capital Investment Advisors LLC Buys 1,919 Shares of Philip Morris International Inc. (NYSE:PM)

Prime Capital Investment Advisors LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,946 shares of the company’s stock after acquiring an additional 1,919 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Philip Morris International were worth $1,818,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Diversify Wealth Management LLC bought a new position in Philip Morris International in the second quarter worth approximately $2,270,000. Seven Mile Advisory purchased a new position in shares of Philip Morris International during the second quarter valued at $245,000. SilverOak Wealth Management LLC purchased a new position in shares of Philip Morris International during the second quarter valued at $213,000. J.W. Cole Advisors Inc. raised its holdings in shares of Philip Morris International by 11.4% in the second quarter. J.W. Cole Advisors Inc. now owns 13,109 shares of the company’s stock valued at $1,328,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Philip Morris International by 4.2% in the second quarter. Envestnet Asset Management Inc. now owns 5,755,075 shares of the company’s stock worth $583,162,000 after acquiring an additional 231,678 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, 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 filing with the SEC, which can be accessed through this hyperlink. In related news, insider Massimo Andolina sold 9,000 shares of the business’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 completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly 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.

Wall Street Analyst Weigh In

A number of research firms have commented on PM. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays increased their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One equities research 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.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $117.05.

Philip Morris International Price Performance

Shares of PM stock opened at $125.99 on Tuesday. The business has a fifty day moving average of $116.78 and a 200 day moving average of $103.89. The firm has a market capitalization of $195.86 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.45 earnings per share 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 given 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 yield of 4.29%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

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.