Beacon Pointe Advisors LLC Sells 9,468 Shares of Philip Morris International Inc. (NYSE:PM)

Beacon Pointe Advisors LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,279 shares of the company’s stock after selling 9,468 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Philip Morris International were worth $14,476,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NewSquare Capital LLC lifted its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $33,000. Knuff & Co LLC bought a new stake in Philip Morris International in the 4th quarter valued at $36,000. Sierra Ocean LLC bought a new stake in Philip Morris International in the 4th quarter valued at $37,000. Finally, Transce3nd LLC bought a new stake in Philip Morris International in the 4th quarter valued at $41,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PM. Citigroup lifted their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $170.00 in a research note on Friday. Finally, Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Philip Morris International Stock Performance

Shares of PM opened at $169.17 on Tuesday. Philip Morris International Inc. has a 52-week low of $94.42 and a 52-week high of $171.63. The business’s fifty day moving average is $155.90 and its 200-day moving average is $138.16. The firm has a market cap of $263.32 billion, a price-to-earnings ratio of 37.51, a PEG ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the business posted $1.50 EPS. Philip Morris International’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.19%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s payout ratio is presently 111.34%.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 10,000 shares of Philip Morris International stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the transaction, the insider now directly owns 106,244 shares of the company’s stock, valued at approximately $15,795,295.48. The trade was a 8.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emmanuel Babeau sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the completion of the transaction, the chief financial officer now directly owns 139,105 shares in the company, valued at $20,705,779.25. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by company 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.