Philip Morris International Inc. (NYSE:PM) Shares Sold by Sigma Planning Corp

Sigma Planning Corp lessened its stake in Philip Morris International Inc. (NYSE:PM) by 64.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,703 shares of the company’s stock after selling 19,184 shares during the period. Sigma Planning Corp’s holdings in Philip Morris International were worth $1,007,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its position in Philip Morris International by 12.6% during 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 last quarter. Invesco Ltd. lifted its position 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 buying an additional 4,304,089 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Philip Morris International by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,270,435 shares of the company’s stock worth $1,197,730,000 after acquiring an additional 87,946 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Philip Morris International by 3.7% during the 3rd 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 buying an additional 299,005 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Philip Morris International by 0.3% in the 3rd 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 during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PM. Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a report on Tuesday, February 13th. Finally, UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and cut their target price 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 given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of “Hold” and an average price target of $105.40.

Philip Morris International Stock Performance

Shares of PM opened at $97.66 on Wednesday. The stock’s 50-day simple moving average is $91.46 and its 200 day simple moving average is $92.10. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $100.79. The stock has a market capitalization of $151.82 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.97 and a beta of 0.61.

Philip Morris International (NYSE:PM) last posted its quarterly 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 negative return on equity of 116.29% and a net margin of 8.53%. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company earned $1.38 EPS. Philip Morris International’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International Inc. will post 6.36 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is presently 103.59%.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was 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 in the company, valued at $882,050.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the 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 owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock valued at $1,411,128 over the last 90 days. Company insiders own 0.14% of the company’s stock.

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.