Patten & Patten Inc. TN Has $1 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Patten & Patten Inc. TN lessened its stake in Philip Morris International Inc. (NYSE:PM) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,306 shares of the company’s stock after selling 110 shares during the quarter. Patten & Patten Inc. TN’s holdings in Philip Morris International were worth $1,000,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PM. FMR LLC boosted its holdings in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $522,214,000. Massachusetts Financial Services Co. MA raised its stake in Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares during the period. Bank of New York Mellon Corp raised its stake in Philip Morris International by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock valued at $1,934,083,000 after acquiring an additional 2,785,987 shares during the period. Finally, National Bank of Canada FI raised its stake in Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after acquiring an additional 1,200,636 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $151.95 on Monday. The firm has a market cap of $236.26 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51. The business’s fifty day moving average is $139.10 and its 200-day moving average is $130.19.

Philip Morris International (NYSE:PM) last released its earnings results 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 negative return on equity of 120.08% and a net margin of 7.89%. On average, research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Insider Activity at Philip Morris International

In other news, CEO Jacek Olczak sold 40,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the sale, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. The trade was a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total value of $6,058,245.58. Following the completion of the transaction, the chairman now directly owns 561,349 shares of the company’s stock, valued at $83,674,681.94. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays increased their price target on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Stifel Nicolaus increased their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.56.

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.