Raymond James & Associates Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Raymond James & Associates decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,169,340 shares of the company’s stock after selling 31,948 shares during the period. Raymond James & Associates’ holdings in Philip Morris International were worth $198,755,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Philip Morris International during the third quarter worth about $27,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $33,000. Northwest Financial Advisors acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $38,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Philip Morris International during the third quarter worth about $37,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.1 %

Shares of NYSE:PM traded down $1.07 during midday trading on Friday, reaching $95.02. The company’s stock had a trading volume of 5,391,012 shares, compared to its average volume of 6,541,754. The firm has a market cap of $147.71 billion, a price-to-earnings 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 1 year low of $87.23 and a 1 year high of $100.79. The business has a 50 day moving average price of $91.90 and a 200 day moving average price of $92.18.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.3 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is currently 101.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on PM. Stifel Nicolaus boosted 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. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and dropped their price target for the stock from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Argus restated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $105.50.

Insider Activity

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares of the company’s stock, valued at $882,050.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,250 shares of company stock worth $3,339,528. 0.13% of the stock is owned by company insiders.

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.