Philip Morris International Inc. (NYSE:PM) Stake Raised by ProVise Management Group LLC

ProVise Management Group LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,826 shares of the company’s stock after acquiring an additional 4,122 shares during the quarter. Philip Morris International comprises about 1.2% of ProVise Management Group LLC’s investment portfolio, making the stock its 20th biggest holding. ProVise Management Group LLC’s holdings in Philip Morris International were worth $14,472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Philip Morris International by 12.6% during 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 acquiring an additional 3,121,732 shares in the last quarter. Invesco Ltd. grew 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 valued at $1,587,542,000 after buying an additional 4,304,089 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Philip Morris International by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,396,354 shares of the company’s stock valued at $1,226,746,000 after buying an additional 125,919 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Philip Morris International by 25.5% in 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 in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Philip Morris International by 3.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,315,843 shares of the company’s stock worth $769,881,000 after purchasing an additional 299,005 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PM shares. Stifel Nicolaus upped their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Finally, Societe Generale upgraded 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International has an average rating of “Hold” and an average price target of $105.50.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded up $0.28 during trading hours on Friday, reaching $99.93. The company had a trading volume of 4,052,538 shares, compared to its average volume of 5,566,520. The business has a fifty day simple moving average of $94.63 and a 200 day simple moving average of $93.18. The firm has a market cap of $155.35 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $101.46.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 6.29 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s payout ratio is presently 101.56%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the transaction, the insider now owns 102,918 shares in the company, valued at $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the transaction, the insider now directly owns 102,918 shares in the company, valued at $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,250 shares of company stock worth $3,339,528. 0.13% of the stock is owned by insiders.

Philip Morris International 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.