Apollon Wealth Management LLC Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Apollon Wealth Management LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,002 shares of the company’s stock after selling 434 shares during the period. Apollon Wealth Management LLC’s holdings in Philip Morris International were worth $4,256,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PM. Kessler Investment Group LLC acquired a new stake in shares of Philip Morris International during the 1st quarter valued at approximately $25,000. Fortitude Family Office LLC lifted its holdings in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its holdings in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after buying an additional 230 shares in the last quarter. Olistico Wealth LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at about $34,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $33,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction 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 sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction 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 sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Stock Up 0.3 %

NYSE PM opened at $118.45 on Tuesday. The firm’s 50-day simple moving average is $108.01 and its two-hundred day simple moving average is $99.20. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $119.06. The company has a market cap of $184.14 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its quarterly 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. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $1.60 earnings per share. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.41 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued a $1.30 dividend. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.39%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analyst Weigh In

PM has been the subject of several research reports. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Stifel Nicolaus boosted their price objective 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. JPMorgan Chase & Co. lifted their target price 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. Barclays boosted their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $109.80.

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.