Philip Morris International Inc. (NYSE:PM) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP lessened its stake in Philip Morris International Inc. (NYSE:PM) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 263,224 shares of the company’s stock after selling 15,581 shares during the quarter. Philip Morris International accounts for about 1.5% of RWC Asset Management LLP’s portfolio, making the stock its 23rd largest holding. RWC Asset Management LLP’s holdings in Philip Morris International were worth $24,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Headlands Technologies LLC acquired a new position in Philip Morris International in the 3rd quarter worth about $27,000. Tennessee Valley Asset Management Partners acquired a new position in Philip Morris International in the 4th quarter worth about $33,000. Legacy Financial Group LLC acquired a new position in Philip Morris International in the 3rd quarter worth about $37,000. Wetzel Investment Advisors Inc. acquired a new position in Philip Morris International in the 4th quarter worth about $39,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Philip Morris International by 158.0% in the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock worth $43,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock traded down $1.07 during trading hours on Friday, reaching $95.02. The company had a trading volume of 5,391,012 shares, compared to its average volume of 6,541,754. The stock has a fifty day moving average of $91.90 and a 200-day moving average of $92.20. The company has a market capitalization of $147.71 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.03 and a beta of 0.61. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $100.79.

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

Philip Morris International Dividend Announcement

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

Insider Buying and Selling

In related news, insider Werner Barth sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the transaction, the insider now directly owns 102,918 shares in the company, valued at $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the transaction, the insider now owns 102,918 shares in the company, valued at $9,412,880.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,250 shares of company stock worth $3,339,528. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PM. Stifel Nicolaus upped their price target on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective for the company in a research note on Tuesday, February 13th. Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and cut their price objective for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.50.

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.