Convergence Investment Partners LLC Sells 8,125 Shares of Philip Morris International Inc. (NYSE:PM)

Convergence Investment Partners LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 46.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,234 shares of the company’s stock after selling 8,125 shares during the period. Convergence Investment Partners LLC’s holdings in Philip Morris International were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in Philip Morris International during the 3rd quarter worth $27,000. Tennessee Valley Asset Management Partners bought a new position in Philip Morris International during the 4th quarter worth $33,000. Legacy Financial Group LLC bought a new position in Philip Morris International during the 3rd quarter worth $37,000. Wetzel Investment Advisors Inc. bought a new position in shares of Philip Morris International in the 4th quarter valued at $39,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Philip Morris International by 158.0% in the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $43,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.1 %

PM 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 firm has a market capitalization of $147.71 billion, a P/E ratio of 18.56, a P/E/G 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 firm’s 50 day moving average price is $91.90 and its 200-day moving average price is $92.18.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share 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 during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company posted $1.38 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.3 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s payout ratio is 101.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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 research note on Wednesday. Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and decreased their price target for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Finally, Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.50.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 5,000 shares of the business’s 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 sale, the insider now directly owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders sold 35,250 shares of company stock valued at $3,339,528 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Company 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.