Federated Hermes Inc. Has $691.67 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Federated Hermes Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,351,949 shares of the company’s stock after selling 723,257 shares during the quarter. Philip Morris International makes up about 1.7% of Federated Hermes Inc.’s holdings, making the stock its 2nd biggest holding. Federated Hermes Inc.’s holdings in Philip Morris International were worth $691,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HF Advisory Group LLC grew its position in shares of Philip Morris International by 11.9% in the 4th quarter. HF Advisory Group LLC now owns 7,858 shares of the company’s stock worth $739,000 after buying an additional 836 shares during the period. Waterfront Wealth Inc. grew its position in shares of Philip Morris International by 2.3% in the 4th quarter. Waterfront Wealth Inc. now owns 11,824 shares of the company’s stock worth $1,112,000 after buying an additional 271 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Philip Morris International by 5.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 147,436 shares of the company’s stock worth $13,871,000 after buying an additional 7,591 shares during the period. KLCM Advisors Inc. boosted its stake in Philip Morris International by 25.9% in the 4th quarter. KLCM Advisors Inc. now owns 16,737 shares of the company’s stock worth $1,575,000 after purchasing an additional 3,445 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Philip Morris International in the 4th quarter worth about $72,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PM. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and dropped their price target for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, Societe Generale upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.40.

Insider Buying and Selling at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of 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 SEC, which is available at the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock valued at $1,411,128 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Trading Up 0.3 %

Philip Morris International stock traded up $0.29 during midday trading on Thursday, hitting $90.87. The stock had a trading volume of 1,285,364 shares, compared to its average volume of 5,436,015. The firm’s fifty day moving average is $91.07 and its two-hundred day moving average is $92.02. The company has a market capitalization of $141.26 billion, a PE ratio of 18.05, a P/E/G ratio of 1.87 and a beta of 0.61. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $101.92.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Philip Morris International Inc. will post 6.37 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 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.