Moors & Cabot Inc. Sells 184 Shares of Philip Morris International Inc. (NYSE:PM)

Moors & Cabot Inc. trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,945 shares of the company’s stock after selling 184 shares during the period. Moors & Cabot Inc.’s holdings in Philip Morris International were worth $2,021,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its stake in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares in the last quarter. Sachetta LLC boosted 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 purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC boosted 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 purchasing an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its stake in Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new position in Philip Morris International during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Down 2.2 %

Shares of PM stock opened at $123.23 on Wednesday. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22. The stock has a 50 day moving average of $117.21 and a 200 day moving average of $104.13. The stock has a market cap of $191.57 billion, a P/E ratio of 24.07, a P/E/G ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping 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 business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior 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, research analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays lifted their target price 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. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

Insider Activity

In related 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 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the company’s 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 transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 completion of the sale, the insider now owns 85,629 shares in the company, 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.