Philip Morris International Inc. (NYSE:PM) Holdings Reduced by Concord Wealth Partners

Concord Wealth Partners lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 91.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 395 shares of the company’s stock after selling 4,046 shares during the quarter. Concord Wealth Partners’ holdings in Philip Morris International were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Philip Morris International by 12.6% in the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after purchasing an additional 3,121,732 shares during the period. Invesco Ltd. lifted its stake in shares of Philip Morris International by 33.5% in the 3rd quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock worth $1,587,542,000 after acquiring an additional 4,304,089 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Philip Morris International by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,270,435 shares of the company’s stock valued at $1,197,730,000 after acquiring an additional 87,946 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Philip Morris International by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,315,843 shares of the company’s stock valued at $769,881,000 after acquiring an additional 299,005 shares during the period. Finally, Royal Bank of Canada raised its holdings in Philip Morris International by 0.3% during the third quarter. Royal Bank of Canada now owns 6,806,099 shares of the company’s stock worth $630,108,000 after purchasing an additional 20,092 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International 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 of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the transaction, the insider now directly owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction 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 sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,250 shares of company stock worth $3,339,528. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Trading Up 0.1 %

NYSE PM opened at $97.40 on Friday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.70. The company has a market cap of $151.41 billion, a PE ratio of 19.02, a PEG ratio of 2.07 and a beta of 0.60. The stock’s 50-day moving average price is $92.36 and its two-hundred day moving average price is $92.28.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts forecast that Philip Morris International Inc. will post 6.29 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were given 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 5.34%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Ratings Changes

PM has been the subject of a number of research reports. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a report on Tuesday, February 13th. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and reduced their price objective for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.50.

Philip Morris International Company 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.