Modera Wealth Management LLC Sells 3,094 Shares of Philip Morris International Inc. (NYSE:PM)

Modera Wealth Management LLC lessened its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,108 shares of the company's stock after selling 3,094 shares during the quarter. Modera Wealth Management LLC's holdings in Philip Morris International were worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PM. FMR LLC increased its stake in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company's stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock valued at $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $1,934,083,000 after buying an additional 2,785,987 shares during the last quarter. National Bank of Canada FI boosted its holdings in Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock worth $235,936,000 after acquiring an additional 1,200,636 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company's stock worth $142,467,000 after acquiring an additional 1,165,554 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of several recent analyst reports. 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 objective on the stock. UBS Group raised their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a research report on Friday, February 7th. 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 report on Tuesday, February 18th. Stifel Nicolaus lifted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Barclays upped their price target on Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $144.56.

Philip Morris International Stock Down 0.5 %

NYSE:PM traded down $0.73 during mid-day trading on Wednesday, hitting $153.22. 4,238,511 shares of the company traded hands, compared to its average volume of 5,169,419. The stock's fifty day moving average price is $134.22 and its 200-day moving average price is $128.43. The firm has a market cap of $238.23 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $159.51.

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, 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%. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 3.52%. Philip Morris International's dividend payout ratio is currently 119.73%.

Insiders Place Their Bets

In other news, insider Werner Barth sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.67, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now owns 561,349 shares in the company, valued at $83,674,681.94. This represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,143 shares of company stock worth $19,092,846 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.