Cullen Capital Management LLC Sells 133,895 Shares of Philip Morris International Inc. (NYSE:PM)

Cullen Capital Management LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,023,928 shares of the company's stock after selling 133,895 shares during the quarter. Philip Morris International makes up approximately 2.8% of Cullen Capital Management LLC's holdings, making the stock its 4th biggest holding. Cullen Capital Management LLC owned 0.13% of Philip Morris International worth $243,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PM. GQG Partners LLC grew its holdings in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Philip Morris International during the fourth quarter valued at approximately $522,214,000. Geode Capital Management LLC lifted its holdings in shares of Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after buying an additional 3,185,258 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 21.0% during the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock valued at $1,934,083,000 after purchasing an additional 2,785,987 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Philip Morris International by 9.6% during the 4th quarter. Franklin Resources Inc. now owns 14,249,131 shares of the company's stock valued at $1,714,883,000 after acquiring an additional 1,248,561 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. Morgan Stanley started coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price target for the company. Barclays increased 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 report on Wednesday, February 26th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Finally, UBS Group boosted their price target 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. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.44.

Philip Morris International Trading Down 0.5 %

NYSE PM traded down $0.75 during trading on Thursday, hitting $151.05. 3,479,251 shares of the company traded hands, compared to its average volume of 6,309,631. The company has a market capitalization of $235.10 billion, a P/E ratio of 33.49, a PEG ratio of 2.65 and a beta of 0.46. The business has a fifty day simple moving average of $151.14 and a 200 day simple moving average of $134.20. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $163.08.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced 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 yield of 3.58%. Philip Morris International's dividend payout ratio (DPR) is presently 119.73%.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company's stock, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now owns 20,799 shares of the company's stock, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 in the last quarter. Insiders own 0.14% of the company's stock.

Philip Morris International 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.