Fragasso Financial Advisors Inc Has $280,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Fragasso Financial Advisors Inc cut its holdings in Philip Morris International Inc. (NYSE:PM) by 20.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,761 shares of the company’s stock after selling 730 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Philip Morris International were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. GQG Partners LLC lifted its stake in Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Philip Morris International by 9.1% during the fourth 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 position in shares of Philip Morris International in the 4th quarter valued at $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after acquiring an additional 2,123,311 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Philip Morris International by 5,045.1% during the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after acquiring an additional 2,081,472 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.6 %

PM stock traded up $0.63 during midday trading on Tuesday, hitting $114.19. The stock had a trading volume of 6,274,484 shares, compared to its average volume of 5,443,429. The business has a fifty day moving average price of $105.11 and a two-hundred day moving average price of $97.43. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $119.06. The firm has a market cap of $177.51 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its earnings results 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 for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.55%. Philip Morris International’s payout ratio is 101.56%.

Analyst Ratings Changes

Several research firms have commented on PM. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. 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. Finally, Bank of America increased their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of the business’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 value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

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.