Martingale Asset Management L P Reduces Position in Philip Morris International Inc. (NYSE:PM)

Martingale Asset Management L P lessened its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 296,598 shares of the company's stock after selling 11,063 shares during the quarter. Philip Morris International accounts for approximately 0.9% of Martingale Asset Management L P's investment portfolio, making the stock its 22nd biggest position. Martingale Asset Management L P's holdings in Philip Morris International were worth $35,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GQG Partners LLC grew its holdings in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares during the last quarter. Raymond James Financial Inc. bought a new position in Philip Morris International in the 4th quarter valued at approximately $522,214,000. Geode Capital Management LLC boosted its position in 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 in the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $1,934,083,000 after acquiring an additional 2,785,987 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in 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 buying an additional 1,248,561 shares during the period. Institutional investors own 78.63% of the company's stock.

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Philip Morris International Stock Up 1.8 %

PM stock traded up $2.68 during mid-day trading on Friday, hitting $153.85. The company had a trading volume of 6,458,822 shares, compared to its average volume of 5,569,399. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $163.08. The company has a 50-day moving average price of $152.03 and a 200 day moving average price of $134.63. The company has a market capitalization of $239.47 billion, a price-to-earnings ratio of 34.11, a P/E/G ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping 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, analysts expect that Philip Morris International Inc. will post 7.14 EPS 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 $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Thursday, March 20th. Philip Morris International's payout ratio is 119.73%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, SVP Yann Guerin sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,822 shares of company stock valued at $19,655,585. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PM has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley initiated coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. Barclays raised their target price on Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $145.44.

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.