Philip Morris International Inc. (NYSE:PM) Position Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its holdings in Philip Morris International Inc. (NYSE:PMFree Report) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,678 shares of the company’s stock after selling 2,177 shares during the quarter. Hartford Investment Management Co.’s holdings in Philip Morris International were worth $9,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Philip Morris International by 3.1% during the second quarter. State Street Corp now owns 58,592,611 shares of the company’s stock valued at $5,793,812,000 after purchasing an additional 1,745,868 shares during the last quarter. Morgan Stanley grew its position in Philip Morris International by 1.0% in the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after buying an additional 411,358 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 12.6% in the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after acquiring an additional 3,121,732 shares during the period. Invesco Ltd. lifted its position in Philip Morris International by 33.5% in the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock worth $1,587,542,000 after purchasing an additional 4,304,089 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Philip Morris International by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock valued at $1,332,355,000 after purchasing an additional 260,832 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target for the company in a research report on Tuesday, February 13th. Finally, UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and reduced their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $105.40.

Check Out Our Latest Analysis on PM

Insider Buying and Selling at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction on Friday, March 15th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the transaction, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,250 shares of company stock worth $1,411,128. Corporate insiders own 0.15% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM traded down $0.48 during trading hours on Wednesday, hitting $91.34. 1,613,327 shares of the company’s stock were exchanged, compared to its average volume of 5,376,677. The stock has a market capitalization of $141.99 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.06 and a beta of 0.61. The company’s 50-day moving average price is $91.46 and its 200-day moving average price is $92.35. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $101.92.

Philip Morris International (NYSE:PMGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). The business had revenue of $9.05 billion during the quarter, compared to analyst estimates of $8.99 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 EPS. On average, research analysts expect that Philip Morris International Inc. will post 6.39 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.69%. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Philip Morris International Company 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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