Mission Wealth Management LP Sells 452 Shares of Philip Morris International Inc. (NYSE:PM)

Mission Wealth Management LP lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,130 shares of the company’s stock after selling 452 shares during the quarter. Mission Wealth Management LP’s holdings in Philip Morris International were worth $1,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Invesco Ltd. boosted 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 last quarter. Wellington Management Group LLP lifted its position in shares of Philip Morris International by 12.6% during the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after buying an additional 3,121,732 shares during the last quarter. Boston Partners boosted its position in Philip Morris International by 38.5% during the third quarter. Boston Partners now owns 4,940,922 shares of the company’s stock worth $456,368,000 after purchasing an additional 1,372,520 shares during the period. London Co. of Virginia boosted its holdings in Philip Morris International by 52.2% in the 3rd quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock worth $287,956,000 after buying an additional 1,066,871 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Philip Morris International by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,841,714 shares of the company’s stock valued at $448,246,000 after acquiring an additional 958,894 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PM. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a research note on Tuesday, February 13th. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and decreased their price target for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Argus reaffirmed a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Hold” and a consensus target price of $105.50.

Philip Morris International Price Performance

Shares of PM opened at $96.04 on Thursday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.70. The company has a 50 day simple moving average of $92.23 and a two-hundred day simple moving average of $92.25. The firm has a market cap of $149.30 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. Philip Morris International’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.38 earnings per share. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.3 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.41%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on 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 approximately $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 owns 94,629 shares in the company, valued at approximately $8,860,113.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,250 shares of company stock worth $3,339,528. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International 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.