Philip Morris International Inc. (NYSE:PM) Shares Bought by Summit Financial LLC

Summit Financial LLC lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 74.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,731 shares of the company’s stock after purchasing an additional 7,990 shares during the quarter. Summit Financial LLC’s holdings in Philip Morris International were worth $2,280,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PM. NewSquare Capital LLC raised its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Dunhill Financial LLC raised its holdings in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International in the fourth quarter worth approximately $33,000. Knuff & Co LLC acquired a new position in Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In related news, insider Werner Barth sold 10,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the completion of the sale, the insider now directly owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now directly owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PM. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley began coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective for the company. Barclays raised their target price on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus upped their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $158.85 on Tuesday. The firm’s fifty day simple moving average is $146.57 and its 200-day simple moving average is $132.43. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.87. The stock has a market capitalization of $246.99 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

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 given a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.40%. Philip Morris International’s payout ratio is 119.73%.

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.