Philip Morris International Inc. (NYSE:PM) Position Reduced by Evanson Asset Management LLC

Evanson Asset Management LLC lessened its position in Philip Morris International Inc. (NYSE:PMFree Report) by 31.6% in the 1st quarter, Holdings Channel reports. The fund owned 6,593 shares of the company’s stock after selling 3,041 shares during the period. Evanson Asset Management LLC’s holdings in Philip Morris International were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its holdings in shares of Philip Morris International by 9.1% in the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after purchasing an additional 4,869,272 shares during the period. Wellington Management Group LLP increased its stake in Philip Morris International by 12.6% in the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after buying an additional 3,121,732 shares during the period. Lone Pine Capital LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake 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 buying an additional 2,123,311 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Philip Morris International by 216.1% during the 4th quarter. Point72 Asset Management L.P. now owns 1,691,337 shares of the company’s stock valued at $159,121,000 after acquiring an additional 1,156,227 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PM. Argus reissued a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Stifel Nicolaus lifted their price target on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $104.22.

Get Our Latest Stock Analysis on PM

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the sale, the insider now owns 178,447 shares in the company, valued at approximately $17,205,859.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.17 during mid-day trading on Tuesday, reaching $102.04. 6,319,400 shares of the company traded hands, compared to its average volume of 5,500,523. The company’s fifty day moving average is $99.24 and its two-hundred day moving average is $94.69. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $104.90. The stock has a market cap of $158.63 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

Philip Morris International (NYSE:PMGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter last year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 21st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a yield of 5.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

About Philip Morris International

(Free Report)

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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