Legacy Capital Wealth Partners LLC Trims Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Legacy Capital Wealth Partners LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 8,152 shares of the company’s stock after selling 117 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Philip Morris International were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PM. PFG Investments LLC grew its position in Philip Morris International by 1.9% in the 4th quarter. PFG Investments LLC now owns 5,951 shares of the company’s stock valued at $560,000 after buying an additional 109 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its position in Philip Morris International by 3.8% in the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 2,993 shares of the company’s stock valued at $277,000 after buying an additional 110 shares in the last quarter. CGC Financial Services LLC boosted its position in shares of Philip Morris International by 8.2% during the 4th quarter. CGC Financial Services LLC now owns 1,453 shares of the company’s stock valued at $137,000 after purchasing an additional 110 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Philip Morris International by 0.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 36,857 shares of the company’s stock valued at $3,412,000 after purchasing an additional 112 shares in the last quarter. Finally, Apexium Financial LP boosted its position in shares of Philip Morris International by 4.9% during the 3rd quarter. Apexium Financial LP now owns 2,467 shares of the company’s stock valued at $229,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $1.07 during mid-day trading 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 two-hundred day moving average of $92.18. The company has a market capitalization of $147.71 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.01 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 issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The firm had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.38 earnings per share. Sell-side analysts forecast 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 declared 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. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.47%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction 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 transaction, the insider now directly 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 SEC, which can be accessed through this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders have sold 35,250 shares of company stock worth $3,339,528 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective 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. UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and reduced their price objective for the company 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 research report on Tuesday, March 5th. Finally, Societe Generale upgraded 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 report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.50.

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.