TIAA Trust National Association Sells 1,116 Shares of Philip Morris International Inc. (NYSE:PM)

TIAA Trust National Association trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,887 shares of the company’s stock after selling 1,116 shares during the period. TIAA Trust National Association’s holdings in Philip Morris International were worth $6,365,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC increased its holdings in shares of Philip Morris International by 17.1% in the third quarter. Kingsview Wealth Management LLC now owns 18,808 shares of the company’s stock valued at $2,283,000 after purchasing an additional 2,747 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Philip Morris International during the third quarter worth about $356,000. Loomis Sayles & Co. L P increased its stake in shares of Philip Morris International by 7.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,894 shares of the company’s stock valued at $230,000 after acquiring an additional 129 shares during the last quarter. FMR LLC grew its holdings in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Philip Morris International in the third quarter valued at approximately $3,818,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the completion of the transaction, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 in the last quarter. Company insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $152.37 on Wednesday. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51. The company has a market cap of $236.91 billion, a P/E ratio of 33.78, a P/E/G ratio of 2.65 and a beta of 0.53. The stock’s 50-day simple moving average is $143.74 and its 200 day simple moving average is $131.59.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share 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%. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 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 Thursday, April 10th. Shareholders of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group raised their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. JPMorgan Chase & Co. increased their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.56.

About Philip Morris International

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.