Assenagon Asset Management S.A. Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Assenagon Asset Management S.A. cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 52.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,816 shares of the company's stock after selling 106,738 shares during the period. Assenagon Asset Management S.A.'s holdings in Philip Morris International were worth $11,772,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. San Luis Wealth Advisors LLC raised its holdings in Philip Morris International by 14.2% during the fourth quarter. San Luis Wealth Advisors LLC now owns 7,055 shares of the company's stock valued at $849,000 after acquiring an additional 876 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Philip Morris International by 24.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,071 shares of the company's stock worth $3,138,000 after purchasing an additional 5,185 shares during the last quarter. Community Trust & Investment Co. grew its position in Philip Morris International by 3.8% in the 4th quarter. Community Trust & Investment Co. now owns 30,152 shares of the company's stock valued at $3,629,000 after acquiring an additional 1,107 shares during the last quarter. Oak Thistle LLC boosted its holdings in shares of Philip Morris International by 99.4% in the fourth quarter. Oak Thistle LLC now owns 22,254 shares of the company's stock valued at $2,678,000 after purchasing an additional 11,093 shares during the period. Finally, R.H. Investment Group LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $5,355,000. Institutional investors own 78.63% of the company's stock.

Insider Activity

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares of the company's stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday. They set an "overweight" rating and a $140.00 price objective for the company. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Barclays reduced their price target on shares of Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $131.35.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $2.08 during mid-day trading on Friday, reaching $121.88. 5,165,969 shares of the company were exchanged, compared to its average volume of 3,837,312. The firm has a market cap of $189.51 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.86 and a beta of 0.54. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The firm's 50-day simple moving average is $125.50 and its 200 day simple moving average is $121.33.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $9.91 billion for the quarter, compared to analysts' expectations of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The business's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International's dividend payout ratio is presently 85.71%.

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.