Farther Finance Advisors LLC Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Farther Finance Advisors LLC decreased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,079 shares of the company's stock after selling 6,533 shares during the period. Farther Finance Advisors LLC's holdings in Philip Morris International were worth $2,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company's stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $522,214,000. Massachusetts Financial Services Co. MA increased its stake in shares of Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock worth $1,934,083,000 after purchasing an additional 2,785,987 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Philip Morris International by 161.6% during the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock worth $235,936,000 after purchasing an additional 1,200,636 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

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Philip Morris International Price Performance

PM traded down $1.01 on Thursday, reaching $150.32. 6,258,439 shares of the company's stock were exchanged, compared to its average volume of 5,209,776. The stock has a market cap of $233.72 billion, a PE ratio of 33.33, a P/E/G ratio of 2.65 and a beta of 0.53. The stock's fifty day moving average price is $138.50 and its 200-day moving average price is $129.87. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.51.

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, beating the consensus estimate 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%. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.59%. Philip Morris International's payout ratio is 119.73%.

Insider Buying and Selling at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the company'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 value of $562,739.84. Following the transaction, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jacek Olczak sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the completion of the transaction, the chief executive officer now owns 547,426 shares in the company, valued at approximately $81,495,308.62. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock worth $19,655,585 in the last ninety days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on PM shares. Barclays boosted their target price 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 boosted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $144.56.

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.