Wright Investors Service Inc. Sells 9,763 Shares of Philip Morris International Inc. (NYSE:PM)

Wright Investors Service Inc. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 52.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,732 shares of the company’s stock after selling 9,763 shares during the quarter. Wright Investors Service Inc.’s holdings in Philip Morris International were worth $1,386,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC lifted its holdings in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Pacifica Partners Inc. lifted its holdings in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Ameriflex Group Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at about $36,000. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at about $33,000. Finally, Knuff & Co LLC bought a new position in shares of Philip Morris International in the fourth quarter valued at about $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Up 1.6%

Shares of PM stock opened at $180.74 on Friday. The stock has a 50-day moving average price of $165.26 and a 200 day moving average price of $145.77. The firm has a market cap of $281.32 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $181.36.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. Philip Morris International’s payout ratio is currently 111.34%.

Insider Transactions at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction dated 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 directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PM shares. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. 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 report on Tuesday, February 18th. Barclays lifted their price target on Philip Morris International from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.20.

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.