Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 340,908 shares of the company's stock after purchasing an additional 20,690 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Philip Morris International were worth $41,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. NewSquare Capital LLC lifted its holdings in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC lifted its holdings in shares of Philip Morris International by 203.8% during 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 in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International during the fourth quarter valued at $33,000. Finally, Sierra Ocean LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at $37,000. 78.63% of the stock is owned by institutional investors.
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 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 directly owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the sale, the chief executive officer now directly owns 547,426 shares of the company's stock, valued at $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. Insiders sold 131,822 shares of company stock worth $19,655,585 in the last quarter. 0.13% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
PM has been the topic of a number of recent research reports. StockNews.com downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price on the stock. UBS Group increased 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. Stifel Nicolaus increased their target price on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus target price of $144.56.
Read Our Latest Stock Report on PM
Philip Morris International Price Performance
Shares of NYSE:PM traded down $0.83 during trading on Wednesday, hitting $151.27. 2,021,549 shares of the company's stock were exchanged, compared to its average volume of 5,193,634. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51. The business's 50-day simple moving average is $137.30 and its 200 day simple moving average is $129.58. The company has a market cap of $235.20 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.65 and a beta of 0.53.
Philip Morris International (NYSE:PM - Get Free Report) last released 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%. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.57%. The ex-dividend date is Thursday, March 20th. Philip Morris International's dividend payout ratio is presently 119.73%.
Philip Morris International Profile
(
Free Report)
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.
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