Chesapeake Wealth Management Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Chesapeake Wealth Management cut its stake in Philip Morris International Inc. (NYSE:PM) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,131 shares of the company’s stock after selling 200 shares during the period. Chesapeake Wealth Management’s holdings in Philip Morris International were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC boosted its holdings in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the last quarter. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH boosted its holdings in Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International during the second quarter valued at about $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of PM stock opened at $120.79 on Friday. The company’s fifty day moving average price is $118.17 and its two-hundred day moving average price is $104.57. The firm has a market capitalization of $187.77 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate 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 business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.47%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the 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 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 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 stock in a transaction that occurred 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 owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the insider now 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. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PM shares. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barclays raised their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. One research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.05.

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.