Harber Asset Management LLC Has $7.30 Million Position in Philip Morris International Inc. (NYSE:PM)

Harber Asset Management LLC cut its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,649 shares of the company's stock after selling 20,201 shares during the period. Philip Morris International accounts for 2.2% of Harber Asset Management LLC's investment portfolio, making the stock its 21st largest holding. Harber Asset Management LLC's holdings in Philip Morris International were worth $7,299,000 at the end of the most recent quarter.

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

Insider Transactions at Philip Morris International

In other news, insider Werner Barth sold 10,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 106,244 shares of the company's stock, valued at $15,795,295.48. This represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the transaction, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. The trade was a 19.38 % 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 valued at $19,655,585 in the last three months. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PM. UBS Group boosted their price target on Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a report on Friday, February 7th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Barclays increased their target price on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $150.78.

Philip Morris International Stock Up 1.6 %

NYSE:PM traded up $2.60 during trading hours on Friday, reaching $163.08. 7,543,615 shares of the company's stock were exchanged, compared to its average volume of 5,589,633. Philip Morris International Inc. has a 12 month low of $90.65 and a 12 month high of $165.00. The business's 50-day simple moving average is $153.50 and its two-hundred day simple moving average is $135.62. The company has a market capitalization of $253.83 billion, a P/E ratio of 36.16, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share 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%. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is currently 119.73%.

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.