US Asset Management LLC Sells 180 Shares of Philip Morris International Inc. (NYSE:PM)

US Asset Management LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.4% in the second quarter, HoldingsChannel reports. The fund owned 5,192 shares of the company’s stock after selling 180 shares during the period. US Asset Management LLC’s holdings in Philip Morris International were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PM. GQG Partners LLC increased its stake in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after purchasing an additional 5,841,696 shares in the last quarter. Capital Research Global Investors increased its stake in Philip Morris International by 9.1% in the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock worth $5,495,794,000 after buying an additional 4,869,272 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Philip Morris International during the fourth quarter valued at about $282,785,000. Van ECK Associates Corp lifted its position in shares of Philip Morris International by 5,045.1% in the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after acquiring an additional 2,081,472 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International 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 value of $2,260,200.00. Following the completion of the transaction, the insider now 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 available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $125.63 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company has a market cap of $195.30 billion, a PE ratio of 24.54, a P/E/G ratio of 2.45 and a beta of 0.55. The business has a 50-day simple moving average of $116.31 and a two-hundred day simple moving average of $103.45.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS 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 company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the business earned $1.60 EPS. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.30%. The ex-dividend date is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 101.56%.

Analyst Ratings Changes

Several research analysts have commented on PM shares. UBS Group increased their price objective on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Bank of America boosted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus raised 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. Barclays upped their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.