First Business Financial Services Inc. Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

First Business Financial Services Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,596 shares of the company’s stock after selling 590 shares during the period. First Business Financial Services Inc.’s holdings in Philip Morris International were worth $1,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PM. Dearborn Partners LLC raised its holdings in shares of Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after acquiring an additional 89 shares in the last quarter. LRI Investments LLC grew its holdings in shares of Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after acquiring an additional 92 shares during the period. Bar Harbor Wealth Management lifted its stake in shares of Philip Morris International by 2.6% in the 2nd quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock valued at $397,000 after purchasing an additional 100 shares during the period. Stephens Consulting LLC boosted its position in shares of Philip Morris International by 8.6% during the second quarter. Stephens Consulting LLC now owns 1,266 shares of the company’s stock valued at $128,000 after purchasing an additional 100 shares in the last quarter. Finally, KCM Investment Advisors LLC grew its stake in Philip Morris International by 2.8% in the first quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock worth $354,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In related 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Down 0.9 %

PM traded down $1.10 during trading on Thursday, reaching $125.51. The company had a trading volume of 2,238,210 shares, compared to its average volume of 5,278,577. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $127.45. The stock has a market cap of $195.11 billion, a P/E ratio of 24.60, a PEG ratio of 2.41 and a beta of 0.55. The business has a 50 day simple moving average of $112.91 and a 200-day simple moving average of $101.82.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Bank of America raised their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Barclays lifted their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $113.70.

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.