Philip Morris International Inc. (NYSE:PM) Holdings Cut by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,616 shares of the company’s stock after selling 222 shares during the quarter. Sheets Smith Wealth Management’s holdings in Philip Morris International were worth $434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter worth approximately $27,000. Tennessee Valley Asset Management Partners acquired a new position in Philip Morris International in the fourth quarter worth approximately $33,000. Wetzel Investment Advisors Inc. bought a new position in shares of Philip Morris International in the fourth quarter valued at $39,000. McClarren Financial Advisors Inc. lifted its position in shares of Philip Morris International by 158.0% during the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $43,000 after acquiring an additional 278 shares during the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Philip Morris International by 1,685.7% during the 4th quarter. Activest Wealth Management now owns 500 shares of the company’s stock worth $47,000 after acquiring an additional 472 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.1 %

Shares of NYSE:PM opened at $97.50 on Tuesday. The firm has a market cap of $151.57 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.08 and a beta of 0.60. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.70. The business has a fifty day simple moving average of $92.61 and a 200 day simple moving average of $92.35.

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

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is 101.56%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PM. Stifel Nicolaus boosted their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their target price for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Argus restated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective for the company in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $105.50.

Insider Transactions 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 completion of the sale, the vice president now owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the transaction, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the sale, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders have sold a total of 35,250 shares of company stock worth $3,339,528 in the last 90 days. 0.14% of the stock is owned by insiders.

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.