Cognios Beta Neutral Large Cap Fund LP Has $685,000 Stake in Philip Morris International Inc. (NYSE:PM)

Cognios Beta Neutral Large Cap Fund LP trimmed its position in Philip Morris International Inc. (NYSE:PM) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,276 shares of the company’s stock after selling 288 shares during the quarter. Philip Morris International accounts for 0.9% of Cognios Beta Neutral Large Cap Fund LP’s portfolio, making the stock its 24th largest position. Cognios Beta Neutral Large Cap Fund LP’s holdings in Philip Morris International were worth $685,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in Philip Morris International by 12.6% during the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after acquiring an additional 3,121,732 shares in the last quarter. Invesco Ltd. increased its stake in shares of Philip Morris International by 33.5% in the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after buying an additional 4,304,089 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Philip Morris International by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,270,435 shares of the company’s stock valued at $1,197,730,000 after buying an additional 87,946 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Philip Morris International by 3.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,315,843 shares of the company’s stock valued at $769,881,000 after buying an additional 299,005 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Philip Morris International by 0.3% in the third quarter. Royal Bank of Canada now owns 6,806,099 shares of the company’s stock valued at $630,108,000 after buying an additional 20,092 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PM. UBS Group cut 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 report on Tuesday, January 23rd. Argus reiterated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Stifel Nicolaus raised their price target on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. One research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.50.

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the sale, the vice president now owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Werner Barth sold 5,000 shares of Philip Morris International 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 owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at approximately $882,050.94. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock worth $1,411,128 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

PM traded up $1.37 during midday trading on Wednesday, reaching $99.03. 13,572,168 shares of the company were exchanged, compared to its average volume of 5,755,332. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $100.79. The stock has a market capitalization of $153.95 billion, a P/E ratio of 19.11, a PEG ratio of 1.97 and a beta of 0.61. The stock’s 50-day simple moving average is $91.46 and its 200 day simple moving average is $92.10.

Philip Morris International (NYSE:PM) last released 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. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the business posted $1.38 EPS. Philip Morris International’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts anticipate that Philip Morris International Inc. will post 6.36 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 103.59%.

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.