Brandywine Global Investment Management LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 941,466 shares of the company's stock after selling 72,800 shares during the period. Philip Morris International makes up approximately 0.8% of Brandywine Global Investment Management LLC's holdings, making the stock its 27th biggest holding. Brandywine Global Investment Management LLC owned approximately 0.06% of Philip Morris International worth $113,305,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC raised its stake in shares of Philip Morris International by 53.7% in 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. Dunhill Financial LLC boosted its position in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at about $33,000. Knuff & Co LLC purchased a new stake in Philip Morris International during the fourth quarter valued at approximately $36,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at $37,000. 78.63% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 547,426 shares of the company's stock, valued at $81,495,308.62. This represents a 6.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 of the company's stock, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is owned by corporate insiders.
Philip Morris International Stock Performance
Shares of PM traded down $0.65 during trading hours on Tuesday, hitting $158.08. 4,428,983 shares of the stock were exchanged, compared to its average volume of 5,474,562. The stock's 50-day moving average price is $146.57 and its two-hundred day moving average price is $132.43. The company has a market cap 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 12-month low of $87.82 and a 12-month high of $159.87.
Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates 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, research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.
Philip Morris International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $1.35 dividend. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.42%. Philip Morris International's dividend payout ratio is presently 119.73%.
Analysts Set New Price Targets
PM has been the topic of several recent analyst reports. UBS Group upped their price objective 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. Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target for the company. Stifel Nicolaus increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, February 7th. Barclays lifted their target price on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.56.
Read Our Latest Analysis on PM
About Philip Morris International
(
Free Report)
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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