Philip Morris International Inc. (NYSE:PM) Stake Reduced by 1900 Wealth Management LLC

1900 Wealth Management LLC cut its holdings in Philip Morris International Inc. (NYSE:PM) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,932 shares of the company’s stock after selling 273 shares during the quarter. 1900 Wealth Management LLC’s holdings in Philip Morris International were worth $652,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Philip Morris International by 33.5% during the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock worth $1,587,542,000 after buying an additional 4,304,089 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 12.6% during the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after acquiring an additional 3,121,732 shares during the period. Boston Partners lifted its stake in Philip Morris International by 38.5% in the third quarter. Boston Partners now owns 4,940,922 shares of the company’s stock valued at $456,368,000 after buying an additional 1,372,520 shares during the period. London Co. of Virginia lifted its stake in Philip Morris International by 52.2% in the third quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock valued at $287,956,000 after buying an additional 1,066,871 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Philip Morris International by 24.7% in the third quarter. Envestnet Asset Management Inc. now owns 4,841,714 shares of the company’s stock worth $448,246,000 after acquiring an additional 958,894 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Argus reiterated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and dropped their price target for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective for the company in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Hold” and a consensus price target of $105.40.

Philip Morris International Price Performance

PM stock traded up $2.07 during mid-day trading on Tuesday, hitting $96.13. 4,205,071 shares of the stock were exchanged, compared to its average volume of 5,536,604. The business has a fifty day moving average price of $91.29 and a 200 day moving average price of $92.06. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $100.79. The stock has a market capitalization of $149.44 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.96 and a beta of 0.61.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). The firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. As a group, equities analysts forecast that Philip Morris International Inc. will post 6.38 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.41%. Philip Morris International’s dividend payout ratio is currently 103.59%.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at approximately $882,050.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the sale, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,250 shares of company stock worth $1,411,128. Company insiders own 0.14% of the company’s stock.

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.