Philip Morris International Inc. (NYSE:PM) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 10.3% in the first quarter, Holdings Channel.com reports. The fund owned 4,094 shares of the company’s stock after selling 468 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Philip Morris International were worth $375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. increased its position in shares of Philip Morris International by 2.3% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock valued at $56,772,000 after buying an additional 13,416 shares in the last quarter. Amica Mutual Insurance Co. increased its position in Philip Morris International by 5.5% during the 3rd quarter. Amica Mutual Insurance Co. now owns 147,492 shares of the company’s stock worth $13,655,000 after purchasing an additional 7,726 shares in the last quarter. NewEdge Wealth LLC increased its position in Philip Morris International by 69.9% during the 4th quarter. NewEdge Wealth LLC now owns 50,865 shares of the company’s stock worth $4,785,000 after purchasing an additional 20,918 shares in the last quarter. Chiron Investment Management LLC increased its position in Philip Morris International by 2.0% during the 3rd quarter. Chiron Investment Management LLC now owns 354,558 shares of the company’s stock worth $32,825,000 after purchasing an additional 6,981 shares in the last quarter. Finally, Country Club Bank GFN increased its position in Philip Morris International by 21.3% during the 4th quarter. Country Club Bank GFN now owns 77,246 shares of the company’s stock worth $7,267,000 after purchasing an additional 13,546 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, April 25th. The stock was 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 owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,250 shares of company stock valued at $3,339,528. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Argus reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Stifel Nicolaus lifted their price target on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Finally, 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 report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Philip Morris International has a consensus rating of “Hold” and a consensus target price of $105.50.

Philip Morris International Price Performance

Philip Morris International stock traded down $1.07 during midday trading on Friday, hitting $95.02. 5,391,012 shares of the company were exchanged, compared to its average volume of 6,541,754. The company’s fifty day moving average price is $91.90 and its 200-day moving average price is $92.18. The company has a market cap of $147.71 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $100.79.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. The firm had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the company posted $1.38 EPS. Philip Morris International’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 6.3 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid 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 5.47%. Philip Morris International’s payout ratio is 101.56%.

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.