Altrius Capital Management Inc Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

Altrius Capital Management Inc lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,623 shares of the company’s stock after acquiring an additional 1,008 shares during the period. Philip Morris International accounts for about 1.3% of Altrius Capital Management Inc’s investment portfolio, making the stock its 27th largest position. Altrius Capital Management Inc’s holdings in Philip Morris International were worth $5,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Bank of Nova Scotia raised its stake in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Philip Morris International in the 1st quarter worth $5,634,000. Axxcess Wealth Management LLC raised its position 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 worth $3,151,000 after buying an additional 6,974 shares during the period. Nebula Research & Development LLC acquired a new position in Philip Morris International in the fourth quarter valued at $857,000. Finally, Pinebridge Investments L.P. grew its position in Philip Morris International by 99.5% during the fourth 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 during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group raised their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.05.

Philip Morris International Trading Down 1.8 %

Shares of PM stock opened at $120.96 on Thursday. The firm has a fifty day simple moving average of $117.57 and a 200-day simple moving average of $104.25. The company has a market capitalization of $188.04 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company posted $1.60 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.46%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the 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 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 is available at this link. Also, insider Massimo Andolina sold 9,000 shares of the business’s 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.