Portside Wealth Group LLC Has $4.15 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Portside Wealth Group LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,184 shares of the company’s stock after selling 586 shares during the quarter. Portside Wealth Group LLC’s holdings in Philip Morris International were worth $4,150,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PM. Valley Wealth Managers Inc. grew its stake in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Dunhill Financial LLC increased its stake in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares in the last quarter. Concord Wealth Partners raised its holdings in Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Philip Morris International in the third quarter valued at approximately $54,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Philip Morris International during the fourth quarter worth $54,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PM shares. Barclays cut their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $131.35.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $121.88 on Friday. The firm has a market capitalization of $189.51 billion, a PE ratio of 19.35, a PEG ratio of 1.86 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The company’s 50-day moving average is $125.50 and its 200-day moving average is $121.19.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.43%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

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.