Adage Capital Partners GP L.L.C. Sells 11,800 Shares of Philip Morris International Inc. (NYSE:PM)

Adage Capital Partners GP L.L.C. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,453,754 shares of the company's stock after selling 11,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.09% of Philip Morris International worth $174,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meridian Wealth Partners LLC lifted its holdings in Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after acquiring an additional 70 shares during the period. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% during 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 last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Philip Morris International by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after purchasing an additional 73 shares during the period. Balboa Wealth Partners boosted its holdings in shares of Philip Morris International by 2.0% in the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company's stock worth $447,000 after buying an additional 74 shares during the last quarter. Finally, Cravens & Co Advisors LLC grew its position in Philip Morris International by 0.7% during the fourth quarter. Cravens & Co Advisors LLC now owns 10,052 shares of the company's stock valued at $1,210,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Insider Transactions at Philip Morris International

In related news, CEO Jacek Olczak sold 40,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the transaction, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. The trade was a 6.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the sale, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Stock Up 1.1 %

PM stock opened at $163.95 on Wednesday. The stock has a 50-day simple moving average of $154.34 and a two-hundred day simple moving average of $136.65. Philip Morris International Inc. has a twelve month low of $93.84 and a twelve month high of $172.10. The firm has a market capitalization of $255.19 billion, a PE ratio of 36.35, a PEG ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate 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%. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared 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 was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.29%. Philip Morris International's dividend payout ratio (DPR) is presently 119.73%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PM shares. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Thursday, April 10th. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. UBS Group increased their price target on Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Finally, StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $150.78.

About Philip Morris International

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.

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