Norden Group LLC Sells 26,440 Shares of Philip Morris International Inc. (NYSE:PM)

Norden Group LLC cut its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 38.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,747 shares of the company's stock after selling 26,440 shares during the period. Norden Group LLC's holdings in Philip Morris International were worth $5,024,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. boosted its position in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after buying an additional 183 shares during the last quarter. Dunhill Financial LLC raised its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after buying an additional 161 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in Philip Morris International during the 4th quarter valued at about $33,000. Sierra Ocean LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $37,000. Finally, Asset Dedication LLC grew its stake in shares of Philip Morris International by 55.5% in the fourth quarter. Asset Dedication LLC now owns 412 shares of the company's stock worth $50,000 after acquiring an additional 147 shares during the period. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PM shares. UBS Group raised their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Stifel Nicolaus upped their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Barclays boosted their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.56.

Insider Activity at Philip Morris International

In other news, CFO Emmanuel Babeau sold 30,000 shares of Philip Morris International stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.85, for a total value of $4,465,500.00. Following the sale, the chief financial officer now directly owns 139,105 shares of the company's stock, valued at approximately $20,705,779.25. The trade was a 17.74 % 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 the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,143 shares of company stock valued at $19,092,846. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Performance

Shares of PM traded down $0.73 during mid-day trading on Wednesday, reaching $153.22. The stock had a trading volume of 4,238,102 shares, compared to its average volume of 5,165,023. The firm has a market cap of $238.23 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.51. The business has a fifty day moving average of $134.22 and a 200 day moving average of $128.43.

Philip Morris International (NYSE:PM - Get Free Report) last issued 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 net margin of 7.89% and a negative return on equity of 120.08%. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, December 26th. Philip Morris International's dividend payout ratio (DPR) is presently 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.