Wrapmanager Inc. Acquires 555 Shares of Philip Morris International Inc. (NYSE:PM)

Wrapmanager Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,172 shares of the company’s stock after buying an additional 555 shares during the quarter. Wrapmanager Inc.’s holdings in Philip Morris International were worth $1,537,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its position in Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC boosted its holdings in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its position in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other news, insider Massimo Andolina sold 9,000 shares of the business’s 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 sale, the insider now 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 through this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated 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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Trading Up 0.8 %

PM opened at $125.63 on Friday. The firm has a market cap of $195.30 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.45 and a beta of 0.55. The stock’s 50-day moving average price is $116.31 and its 200 day moving average price is $103.45. 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 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. On average, research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current 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 issued a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PM. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays upped 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 report on Monday, September 9th. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. UBS Group raised their target price on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.05.

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.