Invesco Ltd. Sells 2,044,176 Shares of Philip Morris International Inc. (NYSE:PM)

Invesco Ltd. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 10.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,215,615 shares of the company’s stock after selling 2,044,176 shares during the quarter. Philip Morris International comprises approximately 0.4% of Invesco Ltd.’s portfolio, making the stock its 28th largest holding. Invesco Ltd.’s holdings in Philip Morris International were worth $2,071,899,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewSquare Capital LLC grew 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 purchasing an additional 72 shares during the period. Dunhill Financial LLC increased its position in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Philip Morris International in the 4th quarter valued at about $33,000. Knuff & Co LLC bought a new stake in Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Sierra Ocean LLC purchased a new stake in Philip Morris International in the 4th quarter valued at $37,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 7.2 %

Shares of PM opened at $150.47 on Monday. The stock has a market capitalization of $234.20 billion, a P/E ratio of 33.36, a PEG ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $163.08. The firm has a fifty day simple moving average of $149.12 and a two-hundred day simple moving average of $133.35.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.59%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s payout ratio is currently 119.73%.

Insider Buying and Selling

In other Philip Morris International news, SVP Yann Guerin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the sale, the senior vice president now directly owns 30,308 shares in the company, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock worth $19,655,585 in the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research analyst reports. UBS Group boosted their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Barclays lifted their price target on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.56.

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.