Brown Brothers Harriman & Co. Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Brown Brothers Harriman & Co. lifted its stake in Philip Morris International Inc. (NYSE:PM) by 0.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 740,903 shares of the company’s stock after purchasing an additional 4,408 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Philip Morris International were worth $75,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its stake in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the second quarter valued at about $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in shares of Philip Morris International by 250.0% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares during the period. Finally, Fortitude Family Office LLC grew its position in shares of Philip Morris International by 57.4% during the second 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. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction, the insider now directly 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 the SEC website. In related news, 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 directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PM. UBS Group boosted 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. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.05.

Philip Morris International Trading Up 0.8 %

Shares of NYSE:PM opened at $125.62 on Monday. The company has a market cap of $195.28 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The company has a 50-day moving average price of $116.31 and a 200 day moving average price of $103.64.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.30%. Philip Morris International’s payout ratio is 101.56%.

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.