Zacks Investment Management Sells 84,372 Shares of Philip Morris International Inc. (NYSE:PM)

Zacks Investment Management trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 799,036 shares of the company's stock after selling 84,372 shares during the period. Philip Morris International comprises 0.9% of Zacks Investment Management's holdings, making the stock its 28th largest position. Zacks Investment Management owned approximately 0.05% of Philip Morris International worth $96,164,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Range Financial Group LLC raised its position in shares of Philip Morris International by 504.9% in the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company's stock valued at $2,758,000 after purchasing an additional 19,127 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Philip Morris International by 18.9% during the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company's stock worth $12,134,000 after acquiring an additional 16,035 shares during the period. CWA Asset Management Group LLC boosted its position in shares of Philip Morris International by 37.5% during the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company's stock worth $2,912,000 after acquiring an additional 6,605 shares in the last quarter. Ritholtz Wealth Management increased its stake in Philip Morris International by 50.9% in the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company's stock valued at $6,485,000 after acquiring an additional 18,183 shares during the last quarter. Finally, Czech National Bank raised its position in Philip Morris International by 6.4% during the fourth quarter. Czech National Bank now owns 337,119 shares of the company's stock valued at $40,572,000 after purchasing an additional 20,390 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now directly owns 26,828 shares of the company's stock, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Yann Guerin sold 2,500 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the sale, the senior vice president now directly owns 30,308 shares of the company's stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,822 shares of company stock valued at $19,655,585. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research analyst reports. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Citigroup increased their price target on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday. Stifel Nicolaus increased their target price on Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Thursday, April 10th. Finally, StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $150.78.

Philip Morris International Stock Up 1.6 %

Philip Morris International stock traded up $2.60 during mid-day trading on Friday, hitting $163.08. 7,543,615 shares of the stock were exchanged, compared to its average volume of 5,595,825. The stock has a market capitalization of $253.83 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a 12 month low of $91.38 and a 12 month high of $165.00. The firm's fifty day simple moving average is $153.80 and its two-hundred day simple moving average is $135.92.

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

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. Philip Morris International's dividend payout ratio (DPR) is presently 119.73%.

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.