Broyhill Asset Management Takes Position in Philip Morris International Inc. (NYSE:PM)

Broyhill Asset Management bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,724 shares of the company's stock, valued at approximately $10,076,000. Philip Morris International comprises about 8.9% of Broyhill Asset Management's portfolio, making the stock its 2nd largest holding.

A number of other institutional investors have also modified their holdings of the business. NewSquare Capital LLC grew its position in Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $33,000. Knuff & Co LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $36,000. Sierra Ocean LLC purchased a new stake in Philip Morris International during the 4th quarter valued at approximately $37,000. Finally, Truvestments Capital LLC increased its holdings in shares of Philip Morris International by 113.8% in the fourth quarter. Truvestments Capital LLC now owns 357 shares of the company's stock valued at $43,000 after purchasing an additional 190 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM traded up $2.60 during trading hours on Friday, reaching $163.08. 7,543,615 shares of the stock traded hands, compared to its average volume of 5,589,633. Philip Morris International Inc. has a fifty-two week low of $90.65 and a fifty-two week high of $165.00. The company has a market cap of $253.83 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.65 and a beta of 0.46. The firm's fifty day simple moving average is $153.50 and its two-hundred day simple moving average is $135.62.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, research analysts predict 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 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 annualized dividend and a dividend yield of 3.31%. Philip Morris International's payout ratio is 119.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PM shares. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Barclays upped their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. UBS Group increased 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. Citigroup upped their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $150.78.

Insider Buying and Selling

In related news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Yann Guerin sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the sale, the senior vice president now directly owns 30,308 shares of the company's stock, valued at approximately $4,584,994.24. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,822 shares of company stock worth $19,655,585. Corporate insiders own 0.13% of the company's stock.

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.