Wright Investors Service Inc. Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Wright Investors Service Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 52.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,495 shares of the company's stock after selling 20,191 shares during the quarter. Wright Investors Service Inc.'s holdings in Philip Morris International were worth $2,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley Wealth Managers Inc. grew its holdings in Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC grew its stake 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 worth $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners increased its holdings in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock valued at $38,000 after purchasing an additional 298 shares during the period. Darwin Wealth Management LLC bought a new position in Philip Morris International during the 3rd quarter worth $54,000. Finally, Reston Wealth Management LLC acquired a new position in Philip Morris International during the 3rd quarter worth about $58,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE PM traded up $0.86 during trading on Tuesday, hitting $118.41. 3,942,630 shares of the company traded hands, compared to its average volume of 4,402,822. The firm has a market capitalization of $184.11 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.22 and a beta of 0.54. The business's fifty day moving average is $126.08 and its 200 day moving average is $120.95. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the business earned $1.67 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.56%. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Analyst Ratings Changes

PM has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus restated a "buy" rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.39.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.