Envestnet Asset Management Inc. Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Envestnet Asset Management Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,537,859 shares of the company's stock after selling 63,136 shares during the quarter. Envestnet Asset Management Inc. owned about 0.36% of Philip Morris International worth $666,481,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PM. GQG Partners LLC increased its position 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 valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth about $522,214,000. Geode Capital Management LLC raised its holdings in Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 21.0% in 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 buying an additional 2,785,987 shares during the period. Finally, Franklin Resources Inc. boosted 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 worth $1,714,883,000 after purchasing an additional 1,248,561 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PM shares. Barclays boosted their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Stifel Nicolaus boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a research 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, StockNews.com downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $144.56.

Insider Buying and Selling

In other news, SVP Yann Guerin sold 2,500 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 30,308 shares of the company's stock, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 10,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the completion of the transaction, the insider now directly owns 106,244 shares in the company, valued at approximately $15,795,295.48. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Performance

PM stock traded up $0.31 during trading on Monday, hitting $150.93. The stock had a trading volume of 9,838,933 shares, compared to its average volume of 5,538,832. The stock has a market cap of $234.93 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. The company's 50 day moving average price is $149.53 and its two-hundred day moving average price is $133.57. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $163.08.

Philip Morris International (NYSE:PM - Get Free Report) last released 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%. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.58%. Philip Morris International's payout ratio is 119.73%.

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.