Philip Morris International Inc. (NYSE:PM) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.2% in the fourth quarter, HoldingsChannel reports. The fund owned 2,803,685 shares of the company’s stock after selling 93,570 shares during the period. Mackenzie Financial Corp’s holdings in Philip Morris International were worth $263,771,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PM. Ferguson Wellman Capital Management Inc. raised its stake in shares of Philip Morris International by 2.3% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock worth $56,772,000 after buying an additional 13,416 shares in the last quarter. Kentucky Retirement Systems bought a new stake in shares of Philip Morris International in the 3rd quarter worth $11,288,000. Amica Mutual Insurance Co. raised its stake in shares of Philip Morris International by 5.5% in the 3rd quarter. Amica Mutual Insurance Co. now owns 147,492 shares of the company’s stock worth $13,655,000 after buying an additional 7,726 shares in the last quarter. NewEdge Wealth LLC raised its stake in shares of Philip Morris International by 69.9% in the 4th quarter. NewEdge Wealth LLC now owns 50,865 shares of the company’s stock worth $4,785,000 after buying an additional 20,918 shares in the last quarter. Finally, Chiron Investment Management LLC raised its stake in shares of Philip Morris International by 2.0% in the 3rd quarter. Chiron Investment Management LLC now owns 354,558 shares of the company’s stock worth $32,825,000 after buying an additional 6,981 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Down 0.7 %

Shares of Philip Morris International stock traded down $0.64 on Monday, reaching $88.21. 4,748,066 shares of the company were exchanged, compared to its average volume of 5,468,896. The firm has a market capitalization of $137.13 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $101.92. The stock has a fifty day moving average price of $91.19 and a 200-day moving average price of $92.08.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.99 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.37 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s payout ratio is 103.59%.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the transaction, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the transaction, the insider now owns 94,629 shares in the company, valued at $8,860,113.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the transaction, the insider now owns 102,918 shares in the company, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,250 shares of company stock valued at $1,411,128. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PM. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a research note on Tuesday, February 13th. Finally, Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.40.

Philip Morris International Company 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.