Swiss National Bank Sells 222,000 Shares of Philip Morris International Inc. (NYSE:PM)

Swiss National Bank lessened its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,392,200 shares of the company's stock after selling 222,000 shares during the period. Swiss National Bank owned 0.28% of Philip Morris International worth $528,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Philip Morris International by 21.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 284,979 shares of the company's stock valued at $34,297,000 after acquiring an additional 49,547 shares during the period. Rakuten Securities Inc. increased its stake in shares of Philip Morris International by 664.6% in the fourth quarter. Rakuten Securities Inc. now owns 497 shares of the company's stock worth $60,000 after purchasing an additional 432 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Philip Morris International by 4.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 93,715 shares of the company's stock valued at $11,279,000 after purchasing an additional 4,240 shares during the period. Truvestments Capital LLC raised its position in shares of Philip Morris International by 113.8% in the fourth quarter. Truvestments Capital LLC now owns 357 shares of the company's stock valued at $43,000 after purchasing an additional 190 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $119,000. Institutional investors own 78.63% of the company's stock.

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Philip Morris International Stock Performance

PM traded down $1.01 on Thursday, reaching $150.32. The company had a trading volume of 6,258,439 shares, compared to its average volume of 5,209,776. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51. The company has a market cap of $233.72 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.65 and a beta of 0.53. The business has a 50 day simple moving average of $138.50 and a 200 day simple moving average of $129.87.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (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, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.59%. Philip Morris International's dividend payout ratio (DPR) is presently 119.73%.

Insider Activity

In related news, CEO Jacek Olczak sold 40,000 shares of Philip Morris International stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the transaction, the chief executive officer now owns 547,426 shares in the company, valued at $81,495,308.62. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was 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 directly owns 20,799 shares of the company's stock, 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 three months, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PM. JPMorgan Chase & Co. lifted 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 lifted their price target 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. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. UBS Group lifted their target price on Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a report on Friday, February 7th. Finally, Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $144.56.

Philip Morris International Company 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.