Philip Morris International Inc. (NYSE:PM) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 99.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,911 shares of the company’s stock after selling 990,818 shares during the period. International Assets Investment Management LLC’s holdings in Philip Morris International were worth $1,079,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC purchased a new position in Philip Morris International in the 2nd quarter worth about $25,000. MGO One Seven LLC lifted its position in shares of Philip Morris International by 0.3% in the 2nd quarter. MGO One Seven LLC now owns 29,114 shares of the company’s stock valued at $2,950,000 after acquiring an additional 100 shares in the last quarter. LPL Financial LLC boosted its stake in Philip Morris International by 6.7% in the 2nd quarter. LPL Financial LLC now owns 2,027,570 shares of the company’s stock worth $205,454,000 after purchasing an additional 128,025 shares during the period. American Century Companies Inc. grew its position in Philip Morris International by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 8,701 shares of the company’s stock worth $882,000 after purchasing an additional 1,715 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in Philip Morris International during the 2nd quarter valued at $138,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

NYSE:PM opened at $121.85 on Friday. The company has a fifty day moving average price of $126.60 and a 200 day moving average price of $120.47. The stock has a market cap of $189.46 billion, a P/E ratio of 19.34, a PEG ratio of 2.22 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.43%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PM. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays decreased their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $130.39.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Philip Morris International Company 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.