Patten & Patten Inc. TN Has $1 Million Stake in Philip Morris International Inc. (NYSE:PM)

Patten & Patten Inc. TN reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,306 shares of the company’s stock after selling 110 shares during the period. Patten & Patten Inc. TN’s holdings in Philip Morris International were worth $1,000,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PM. NewSquare Capital LLC boosted its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Dunhill Financial LLC lifted its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in Philip Morris International in the 4th quarter valued at about $33,000. Knuff & Co LLC bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Sierra Ocean LLC bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $37,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley initiated coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. UBS Group lifted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $151.95 on Monday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $159.51. The stock has a market cap of $236.26 billion, a PE ratio of 33.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The stock has a fifty day moving average of $139.10 and a 200-day moving average of $130.19.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.55%. Philip Morris International’s dividend payout ratio (DPR) is currently 119.73%.

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.