Philip Morris International Inc. (NYSE:PM) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,499 shares of the company’s stock after selling 32,914 shares during the quarter. iA Global Asset Management Inc.’s holdings in Philip Morris International were worth $29,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Range Financial Group LLC lifted its holdings in shares of Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after purchasing an additional 19,127 shares during the period. Park Avenue Securities LLC raised its position in Philip Morris International by 18.9% during the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after acquiring an additional 16,035 shares in the last quarter. CWA Asset Management Group LLC raised its position in Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after acquiring an additional 6,605 shares in the last quarter. Ritholtz Wealth Management raised its position in Philip Morris International by 50.9% during 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 in the last quarter. Finally, Brooklyn Investment Group raised its position in Philip Morris International by 182.4% during the third quarter. Brooklyn Investment Group now owns 6,815 shares of the company’s stock valued at $827,000 after acquiring an additional 4,402 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In other Philip Morris International news, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares of the company’s stock, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,822 shares of company stock valued at $19,655,585. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PM. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus boosted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays boosted their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Stock Performance

Shares of PM opened at $154.27 on Thursday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $159.51. The stock has a market capitalization of $239.86 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 2.65 and a beta of 0.53. The stock has a 50 day moving average price of $141.09 and a 200 day moving average price of $130.80.

Philip Morris International (NYSE:PM) last issued its quarterly 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%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) 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.