Philip Morris International Inc. (NYSE:PM) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 574,249 shares of the company's stock after selling 168,355 shares during the period. Brown Brothers Harriman & Co.'s holdings in Philip Morris International were worth $69,111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC grew its stake in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after acquiring an additional 72 shares during the period. Dunhill Financial LLC grew its position in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after purchasing an additional 161 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter valued at about $33,000. Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $36,000. Finally, Sierra Ocean LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research analyst reports. 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 increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. UBS Group increased 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. Finally, StockNews.com lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.56.

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Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 40,643 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total value of $6,058,245.58. Following the completion of the transaction, the chairman now owns 561,349 shares in the company, valued at $83,674,681.94. The trade was a 6.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the completion of the sale, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Down 0.4 %

NYSE PM traded down $0.65 on Tuesday, reaching $158.08. The stock had a trading volume of 4,324,797 shares, compared to its average volume of 5,478,277. The stock has a fifty day moving average price of $146.57 and a two-hundred day moving average price of $132.43. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $159.87. The firm has a market capitalization of $245.79 billion, a price-to-earnings ratio of 35.05, a P/E/G ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a $1.35 dividend. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.42%. Philip Morris International's dividend payout ratio is presently 119.73%.

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.