Intact Investment Management Inc. Has $14.41 Million Stake in Philip Morris International Inc. (NYSE:PM)

Intact Investment Management Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.2% in the 4th quarter, Holdings Channel reports. The fund owned 153,200 shares of the company’s stock after selling 13,600 shares during the period. Intact Investment Management Inc.’s holdings in Philip Morris International were worth $14,413,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. increased its stake in shares of Philip Morris International by 33.5% in the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after buying an additional 4,304,089 shares during the period. Wellington Management Group LLP increased its stake in shares of Philip Morris International by 12.6% in the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after buying an additional 3,121,732 shares during the period. Boston Partners increased its stake in shares of Philip Morris International by 38.5% in the third quarter. Boston Partners now owns 4,940,922 shares of the company’s stock valued at $456,368,000 after buying an additional 1,372,520 shares during the period. London Co. of Virginia increased its position in Philip Morris International by 52.2% during the 3rd quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock valued at $287,956,000 after purchasing an additional 1,066,871 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Philip Morris International by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,841,714 shares of the company’s stock valued at $448,246,000 after purchasing an additional 958,894 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the sale, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the sale, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 35,250 shares of company stock worth $3,339,528. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PM shares. Stifel Nicolaus increased their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price for the company in a research report on Tuesday, February 13th. Argus reissued a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Finally, UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their target price for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.50.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $1.07 on Friday, reaching $95.02. 5,391,012 shares of the company’s stock were exchanged, compared to its average volume of 6,541,754. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $100.79. The firm’s 50-day moving average is $91.90 and its two-hundred day moving average is $92.20. The company has a market capitalization of $147.71 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (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 period last year, the business earned $1.38 EPS. Philip Morris International’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 6.3 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.47%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 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.