Principle Wealth Partners LLC Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Principle Wealth Partners LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.8% in the fourth quarter, Holdings Channel reports. The firm owned 34,623 shares of the company’s stock after selling 635 shares during the period. Principle Wealth Partners LLC’s holdings in Philip Morris International were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PM. Ropes Wealth Advisors LLC grew its stake in Philip Morris International by 30.2% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 6,089 shares of the company’s stock valued at $564,000 after purchasing an additional 1,412 shares during the period. Trust Co. of Toledo NA OH grew its stake in Philip Morris International by 29.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 3,306 shares of the company’s stock valued at $306,000 after purchasing an additional 754 shares during the period. Uncommon Cents Investing LLC grew its stake in shares of Philip Morris International by 38.4% during the 3rd quarter. Uncommon Cents Investing LLC now owns 3,136 shares of the company’s stock worth $290,000 after acquiring an additional 870 shares during the period. My Legacy Advisors LLC grew its stake in shares of Philip Morris International by 2.9% during the 3rd quarter. My Legacy Advisors LLC now owns 7,656 shares of the company’s stock worth $695,000 after acquiring an additional 216 shares during the period. Finally, Townsend Asset Management Corp NC ADV grew its stake in shares of Philip Morris International by 3.8% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 2,993 shares of the company’s stock worth $277,000 after acquiring an additional 110 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and cut their price target for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Stifel Nicolaus increased their price target on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target for the company in a research note on Tuesday, February 13th. Finally, Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $105.50.

Philip Morris International Stock Down 1.1 %

PM traded down $1.07 during trading on Friday, reaching $95.02. 5,391,012 shares of the company were exchanged, compared to its average volume of 6,541,754. The company’s 50-day moving average is $91.90 and its two-hundred day moving average is $92.18. The company has a market cap of $147.71 billion, a price-to-earnings ratio of 18.56, a P/E/G 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. 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 prior year, the firm posted $1.38 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts forecast that Philip Morris International Inc. will post 6.3 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.47%. Philip Morris International’s payout ratio is currently 101.56%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction dated 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 a total of 35,250 shares of company stock valued at $3,339,528 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

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.