Allstate Corp Buys Shares of 46,244 Philip Morris International Inc. (NYSE:PM)

Allstate Corp purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,244 shares of the company's stock, valued at approximately $5,565,000.

Several other hedge funds have also recently added to or reduced their stakes in PM. Maridea Wealth Management LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at $428,000. Slagle Financial LLC boosted its position in shares of Philip Morris International by 11.0% during the fourth quarter. Slagle Financial LLC now owns 32,458 shares of the company's stock valued at $3,906,000 after buying an additional 3,228 shares during the last quarter. denkapparat Operations GmbH bought a new stake in shares of Philip Morris International in the fourth quarter worth approximately $255,000. Orion Portfolio Solutions LLC grew its position in Philip Morris International by 2.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 193,451 shares of the company's stock worth $23,282,000 after purchasing an additional 3,910 shares during the period. Finally, New Age Alpha Advisors LLC increased its position in Philip Morris International by 5,605.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 8,957 shares of the company's stock valued at $1,078,000 after acquiring an additional 8,800 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Insiders Place Their Bets

In related news, SVP Yann Guerin sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $562,739.84. Following 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. Over the last ninety days, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is owned by corporate insiders.

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Philip Morris International Stock Down 0.4 %

NYSE:PM traded down $0.65 on Tuesday, reaching $158.08. 4,324,797 shares of the company's stock were exchanged, compared to its average volume of 5,478,277. The firm has a market capitalization of $245.79 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.87. The business has a fifty day moving average of $146.57 and a 200-day moving average of $132.43.

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%. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is currently 119.73%.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. StockNews.com lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Barclays increased their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. UBS Group raised their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a report on Friday, February 7th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $144.56.

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.