Synovus Financial Corp Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Synovus Financial Corp trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,303 shares of the company’s stock after selling 9,874 shares during the period. Synovus Financial Corp’s holdings in Philip Morris International were worth $9,906,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PM. Morse Asset Management Inc bought a new position in Philip Morris International during the 3rd quarter valued at about $206,000. McIlrath & Eck LLC raised its holdings in shares of Philip Morris International by 38.5% during the third quarter. McIlrath & Eck LLC now owns 561 shares of the company’s stock valued at $68,000 after purchasing an additional 156 shares during the last quarter. Anchor Investment Management LLC lifted its position in Philip Morris International by 3.5% during the third quarter. Anchor Investment Management LLC now owns 46,037 shares of the company’s stock valued at $5,589,000 after purchasing an additional 1,544 shares during the period. Pine Valley Investments Ltd Liability Co boosted its holdings in Philip Morris International by 225.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,379 shares of the company’s stock worth $2,841,000 after purchasing an additional 16,194 shares during the last quarter. Finally, World Investment Advisors LLC grew its position in Philip Morris International by 567.0% in the 3rd quarter. World Investment Advisors LLC now owns 50,672 shares of the company’s stock worth $6,152,000 after purchasing an additional 43,075 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $153.85 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $163.08. The firm has a fifty day moving average price of $152.03 and a 200-day moving average price of $134.63. The stock has a market cap of $239.47 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS 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, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 119.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PM shares. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Morgan Stanley assumed coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Barclays boosted their price target on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. UBS Group increased their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.44.

Insider Activity

In related news, CFO Emmanuel Babeau sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.85, for a total transaction of $4,465,500.00. Following the completion of the transaction, the chief financial officer now directly owns 139,105 shares of the company’s stock, valued at approximately $20,705,779.25. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total value of $6,058,245.58. Following the transaction, the chairman now owns 561,349 shares of the company’s stock, valued at $83,674,681.94. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock worth $19,655,585 over the last quarter. Insiders own 0.14% 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.