Pictet Asset Management Holding SA Has $77.71 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Pictet Asset Management Holding SA reduced its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,694 shares of the company's stock after selling 9,254 shares during the quarter. Pictet Asset Management Holding SA's holdings in Philip Morris International were worth $77,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its position in Philip Morris International by 4.8% during the third quarter. Rockefeller Capital Management L.P. now owns 208,989 shares of the company's stock worth $25,342,000 after purchasing an additional 9,500 shares during the last quarter. Fred Alger Management LLC increased its stake in Philip Morris International by 4.8% during the third quarter. Fred Alger Management LLC now owns 32,390 shares of the company's stock worth $3,932,000 after acquiring an additional 1,492 shares during the last quarter. L.M. Kohn & Company raised its holdings in shares of Philip Morris International by 37.9% in the 3rd quarter. L.M. Kohn & Company now owns 9,832 shares of the company's stock worth $1,194,000 after purchasing an additional 2,700 shares during the period. Acropolis Investment Management LLC lifted its stake in shares of Philip Morris International by 7.3% in the 3rd quarter. Acropolis Investment Management LLC now owns 1,470 shares of the company's stock valued at $178,000 after purchasing an additional 100 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of Philip Morris International by 144.5% during the 3rd quarter. Edgestream Partners L.P. now owns 13,172 shares of the company's stock worth $1,599,000 after purchasing an additional 7,784 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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Philip Morris International Stock Performance

Shares of PM stock traded down $0.65 during trading hours on Tuesday, hitting $158.08. 4,428,983 shares of the company were exchanged, compared to its average volume of 5,478,539. The stock 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 Inc. has a one year low of $87.82 and a one year high of $159.87. The business's 50-day simple moving average is $146.57 and its two-hundred day simple moving average is $132.43.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PM. UBS Group lifted 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. Stifel Nicolaus upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock 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 research note on Friday, March 14th. StockNews.com downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $144.56.

Insider Buying and Selling at Philip Morris International

In other news, CEO Jacek Olczak sold 40,000 shares of Philip Morris International stock in a transaction that occurred 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 of the company's stock, valued at $81,495,308.62. The trade was a 6.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 in the last ninety days. Company insiders own 0.13% of the company's stock.

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.