Robertson Stephens Wealth Management LLC Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Robertson Stephens Wealth Management LLC reduced its stake in Philip Morris International Inc. (NYSE:PM) by 6.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,113 shares of the company’s stock after selling 138 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Philip Morris International were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. boosted its holdings in shares of Philip Morris International by 48.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 13,603 shares of the company’s stock worth $1,280,000 after buying an additional 4,459 shares during the last quarter. Summit Financial LLC raised its stake in Philip Morris International by 8.7% in the 4th quarter. Summit Financial LLC now owns 6,054 shares of the company’s stock valued at $577,000 after acquiring an additional 482 shares during the period. Essex Financial Services Inc. raised its stake in Philip Morris International by 1.4% in the 4th quarter. Essex Financial Services Inc. now owns 20,513 shares of the company’s stock valued at $1,930,000 after acquiring an additional 282 shares during the period. Victory Capital Management Inc. raised its stake in Philip Morris International by 10.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,106,341 shares of the company’s stock valued at $198,165,000 after acquiring an additional 200,684 shares during the period. Finally, Phraction Management LLC raised its stake in Philip Morris International by 0.7% in the 4th quarter. Phraction Management LLC now owns 79,504 shares of the company’s stock valued at $7,480,000 after acquiring an additional 570 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International 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 transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a 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 dated Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, 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. Over the last 90 days, insiders sold 35,250 shares of company stock worth $3,339,528. 0.13% of the stock is currently owned by insiders.

Philip Morris International Price Performance

Shares of PM opened at $97.40 on Friday. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.70. The stock has a 50 day simple moving average of $92.36 and a two-hundred day simple moving average of $92.28. The firm has a market cap of $151.41 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.07 and a beta of 0.60.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. During the same quarter last year, the firm earned $1.38 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.29 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.34%. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PM. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and lowered their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Stifel Nicolaus upped their price target on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Argus reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. 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 research report on Tuesday, February 13th. One equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.50.

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.