Philip Morris International Inc. (NYSE:PM) Stake Boosted by Norden Group LLC

Norden Group LLC increased its stake in Philip Morris International Inc. (NYSE:PM) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,064 shares of the company’s stock after purchasing an additional 2,727 shares during the quarter. Norden Group LLC’s holdings in Philip Morris International were worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Dearborn Partners LLC raised its position in shares of Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares during the last quarter. LRI Investments LLC raised its holdings in shares of Philip Morris International by 1.5% during the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after purchasing an additional 92 shares during the period. Bar Harbor Wealth Management raised its holdings in shares of Philip Morris International by 2.6% during the second quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock worth $397,000 after purchasing an additional 100 shares during the period. Stephens Consulting LLC increased its holdings in shares of Philip Morris International by 8.6% in the 2nd quarter. Stephens Consulting LLC now owns 1,266 shares of the company’s stock worth $128,000 after acquiring an additional 100 shares during the period. Finally, KCM Investment Advisors LLC grew its position in Philip Morris International by 2.8% in the 1st quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock valued at $354,000 after buying an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PM shares. Barclays raised their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. 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, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued 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 price target of $113.70.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Wilde Frederic De sold 20,000 shares of the company’s 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 sale, 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 filing with the SEC, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of the 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

PM stock traded up $0.63 during trading on Friday, hitting $125.81. 8,412,610 shares of the company traded hands, compared to its average volume of 5,317,667. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $127.45. The company has a 50-day moving average of $113.87 and a 200-day moving average of $102.23. The firm has a market capitalization of $195.58 billion, a PE ratio of 24.57, a P/E/G ratio of 2.41 and a beta of 0.55.

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 negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

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.