Philip Morris International Inc. (NYSE:PM) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,690 shares of the company’s stock after selling 2,679 shares during the period. Philip Morris International accounts for 1.0% of Symphony Financial Ltd. Co.’s investment portfolio, making the stock its 29th largest position. Symphony Financial Ltd. Co.’s holdings in Philip Morris International were worth $4,094,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in Philip Morris International by 129.0% in the third quarter. Bank of Nova Scotia now owns 309,292 shares of the company’s stock valued at $28,634,000 after purchasing an additional 174,224 shares during the period. Corton Capital Inc. purchased a new stake in shares of Philip Morris International in the 3rd quarter valued at $430,000. Gotham Asset Management LLC raised its holdings in shares of Philip Morris International by 140.3% in the 3rd quarter. Gotham Asset Management LLC now owns 88,327 shares of the company’s stock valued at $8,177,000 after buying an additional 51,571 shares during the period. Waverly Advisors LLC raised its holdings in shares of Philip Morris International by 7.5% in the 3rd quarter. Waverly Advisors LLC now owns 8,404 shares of the company’s stock valued at $778,000 after buying an additional 588 shares during the period. Finally, United Services Automobile Association raised its holdings in shares of Philip Morris International by 1.8% in the 3rd quarter. United Services Automobile Association now owns 344,718 shares of the company’s stock valued at $31,914,000 after buying an additional 6,169 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PM. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Hold” and an average price target of $104.22.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $0.24 on Friday, hitting $101.33. 7,299,472 shares of the company’s stock were exchanged, compared to its average volume of 5,042,973. The company has a market capitalization of $157.52 billion, a PE ratio of 19.79, a P/E/G ratio of 2.08 and a beta of 0.57. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $104.90. The firm’s 50-day moving average is $100.08 and its 200 day moving average is $94.94.

Philip Morris International (NYSE:PM) last announced its 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 firm had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.13%. The ex-dividend date is Friday, June 21st. Philip Morris International’s dividend payout ratio is presently 101.56%.

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.