Laidlaw Wealth Management LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Laidlaw Wealth Management LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,274 shares of the company’s stock after selling 165 shares during the period. Laidlaw Wealth Management LLC’s holdings in Philip Morris International were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PM. Vest Financial LLC lifted its holdings in shares of Philip Morris International by 197.1% in the third quarter. Vest Financial LLC now owns 7,786 shares of the company’s stock valued at $945,000 after purchasing an additional 5,165 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Philip Morris International by 47.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 226,577 shares of the company’s stock valued at $27,506,000 after purchasing an additional 72,757 shares in the last quarter. Ledyard National Bank lifted its holdings in shares of Philip Morris International by 6.5% in the third quarter. Ledyard National Bank now owns 3,703 shares of the company’s stock valued at $450,000 after purchasing an additional 227 shares in the last quarter. Telos Capital Management Inc. purchased a new stake in shares of Philip Morris International in the third quarter valued at about $479,000. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of Philip Morris International by 35.3% in the third quarter. Foundations Investment Advisors LLC now owns 20,614 shares of the company’s stock valued at $2,503,000 after purchasing an additional 5,373 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PM shares. Barclays reduced their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley started coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.22.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the sale, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $148.85 on Wednesday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $151.22. The company has a 50 day moving average price of $128.31 and a 200 day moving average price of $125.73. The firm has a market capitalization of $231.43 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings data 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 net margin of 7.89% and a negative return on equity of 120.08%. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.13 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is currently 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.