Parsons Capital Management Inc. RI Sells 468 Shares of Philip Morris International Inc. (NYSE:PM)

Parsons Capital Management Inc. RI reduced its position in Philip Morris International Inc. (NYSE:PM) by 10.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,094 shares of the company’s stock after selling 468 shares during the period. Parsons Capital Management Inc. RI’s holdings in Philip Morris International were worth $375,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Philip Morris International in the 3rd quarter worth approximately $27,000. Tennessee Valley Asset Management Partners acquired a new stake in Philip Morris International in the 4th quarter worth approximately $33,000. Northwest Financial Advisors acquired a new stake in Philip Morris International in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Philip Morris International in the 4th quarter worth approximately $38,000. Finally, Legacy Financial Group LLC acquired a new stake in Philip Morris International in the 3rd quarter worth approximately $37,000. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 8,250 shares of the business’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 sale, the insider now owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now 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 is available through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,250 shares of company stock valued at $3,339,528. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Societe Generale upgraded 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. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Finally, Argus restated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.50.

Philip Morris International Stock Down 1.1 %

Shares of NYSE:PM traded down $1.07 during trading on Friday, hitting $95.02. 5,391,012 shares of the stock traded hands, compared to its average volume of 6,541,754. The company has a market cap of $147.71 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.01 and a beta of 0.61. The company has a fifty day moving average price of $91.90 and a two-hundred day moving average price of $92.18. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $100.79.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The company had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 6.3 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.47%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s payout ratio is presently 101.56%.

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.