Mutual Advisors LLC Reduces Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Mutual Advisors LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,988 shares of the company’s stock after selling 1,006 shares during the period. Mutual Advisors LLC’s holdings in Philip Morris International were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Lumature Wealth Partners LLC acquired a new position in Philip Morris International during the first quarter worth $26,000. Providence Capital Advisors LLC acquired a new position in Philip Morris International during the first quarter worth $27,000. Centiva Capital LP raised its position in Philip Morris International by 152.2% during the first quarter. Centiva Capital LP now owns 13,600 shares of the company’s stock worth $30,000 after acquiring an additional 8,208 shares during the period. Evolution Wealth Advisors LLC raised its position in Philip Morris International by 179.1% during the second quarter. Evolution Wealth Advisors LLC now owns 307 shares of the company’s stock worth $30,000 after acquiring an additional 197 shares during the period. Finally, Regency Capital Management Inc. DE acquired a new position in Philip Morris International during the first quarter worth $32,000. Hedge funds and other institutional investors own 75.05% of the company’s stock.

In related news, CEO Martin G. King sold 21,725 shares of the business’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $100.18, for a total value of $2,176,410.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.

Shares of PM opened at $101.82 on Friday. The firm has a market cap of $158.69 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The company’s 50 day simple moving average is $101.18 and its 200-day simple moving average is $97.12. Philip Morris International Inc. has a 12-month low of $68.93 and a 12-month high of $106.51.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Monday, July 19th. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.02. The firm had revenue of $7.84 billion for the quarter, compared to analyst estimates of $7.71 billion. Philip Morris International had a net margin of 11.13% and a negative return on equity of 91.56%. Philip Morris International’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. As a group, analysts expect that Philip Morris International Inc. will post 6.07 earnings per share for the current fiscal year.

Philip Morris International declared that its board has approved a share buyback plan on Friday, June 11th that authorizes the company to buyback $7.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 14th. Stockholders of record on Wednesday, September 29th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Tuesday, September 28th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.20. Philip Morris International’s payout ratio is 92.84%.

A number of equities research analysts recently issued reports on PM shares. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b” rating in a report on Tuesday, July 20th. Piper Sandler upped their price objective on shares of Philip Morris International from $111.00 to $114.00 and gave the company an “overweight” rating in a report on Friday, June 11th. Barclays set a $98.59 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Friday, July 23rd. Morgan Stanley reaffirmed a “buy” rating and set a $110.00 target price on shares of Philip Morris International in a research note on Friday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $102.38.

About Philip Morris International

Philip Morris International, Inc is a holding company. It engages in manufacturing and sale of cigarettes, tobacco and nicotine-containing products. It operates through the following geographical segments: European Union, Eastern Europe, Middles East & Africa, South & Southeast Asia, East Asia & Australia and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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