MBB Public Markets I LLC Buys 104,634 Shares of Philip Morris International Inc. (NYSE:PM)

MBB Public Markets I LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1,800.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,444 shares of the company’s stock after purchasing an additional 104,634 shares during the period. MBB Public Markets I LLC’s holdings in Philip Morris International were worth $11,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia lifted its holdings in shares of Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC boosted its holdings 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 purchasing an additional 6,974 shares during the period. Nebula Research & Development LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $857,000. Finally, Pinebridge Investments L.P. raised its holdings in 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 buying an additional 26,960 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, 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 value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction 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 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. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Down 0.7 %

Shares of NYSE:PM opened at $120.84 on Friday. The business’s 50 day moving average is $119.06 and its 200 day moving average is $105.29. The stock has a market cap of $187.88 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate 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 revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 EPS. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PM shares. Stifel Nicolaus lifted 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 note on Wednesday, September 4th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays raised their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, UBS Group increased their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.14.

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.