Philip Morris International Inc. (NYSE:PM) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,042 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Philip Morris International were worth $1,220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kessler Investment Group LLC purchased a new stake in Philip Morris International in the 1st quarter valued at $25,000. Boyd Watterson Asset Management LLC OH increased its stake in 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 valued at $30,000 after purchasing an additional 230 shares during the period. Fortitude Family Office LLC raised its holdings in shares of Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Philip Morris International during the 4th quarter worth approximately $33,000. Finally, Northwest Financial Advisors purchased a new stake in shares of Philip Morris International during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PM shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America raised their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays upped their target price on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Philip Morris International Price Performance

NYSE PM traded up $0.34 during mid-day trading on Thursday, hitting $117.54. The company’s stock had a trading volume of 1,853,544 shares, compared to its average volume of 5,373,514. The firm has a market capitalization of $182.72 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $119.06. The stock’s fifty day simple moving average is $107.16 and its two-hundred day simple moving average is $98.59.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s payout ratio is 101.56%.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’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 value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 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.