Connectus Wealth LLC Sells 4,275 Shares of Philip Morris International Inc. (NYSE:PM)

Connectus Wealth LLC lessened its position in Philip Morris International Inc. (NYSE:PMFree Report) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,345 shares of the company’s stock after selling 4,275 shares during the period. Connectus Wealth LLC’s holdings in Philip Morris International were worth $4,301,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PM. Bank of Nova Scotia grew its stake in shares of Philip Morris International by 283.5% in the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Philip Morris International by 2.3% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock valued at $56,772,000 after buying an additional 13,416 shares during the period. Gilliland Jeter Wealth Management LLC bought a new position in shares of Philip Morris International during the fourth quarter worth about $1,251,000. AJOVista LLC bought a new position in Philip Morris International during the 4th quarter worth approximately $137,000. Finally, Pinebridge Investments L.P. raised its position in shares of Philip Morris International by 99.5% in the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after acquiring an additional 26,960 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.6 %

PM opened at $103.61 on Monday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The company has a market cap of $161.07 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. The company has a 50 day moving average of $96.64 and a 200 day moving average of $94.01.

Philip Morris International (NYSE:PMGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts forecast that Philip Morris International Inc. will post 6.32 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, June 21st. Philip Morris International’s payout ratio is 101.56%.

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares in the company, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on PM shares. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a report on Tuesday, February 13th. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.50.

Read Our Latest Stock Report on PM

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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