Raymond James & Associates Sells 31,948 Shares of Philip Morris International Inc. (NYSE:PM)

Raymond James & Associates lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,169,340 shares of the company’s stock after selling 31,948 shares during the quarter. Raymond James & Associates owned 0.14% of Philip Morris International worth $198,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PFG Investments LLC lifted its stake in shares of Philip Morris International by 1.9% in the 4th quarter. PFG Investments LLC now owns 5,951 shares of the company’s stock valued at $560,000 after purchasing an additional 109 shares during the period. Townsend Asset Management Corp NC ADV increased its position in Philip Morris International by 3.8% during the third quarter. Townsend Asset Management Corp NC ADV now owns 2,993 shares of the company’s stock valued at $277,000 after acquiring an additional 110 shares during the last quarter. CGC Financial Services LLC increased its position in Philip Morris International by 8.2% during the fourth quarter. CGC Financial Services LLC now owns 1,453 shares of the company’s stock valued at $137,000 after acquiring an additional 110 shares during the last quarter. Raleigh Capital Management Inc. increased its position in Philip Morris International by 0.3% during the third quarter. Raleigh Capital Management Inc. now owns 36,857 shares of the company’s stock valued at $3,412,000 after acquiring an additional 112 shares during the last quarter. Finally, Bluesphere Advisors LLC increased its position in Philip Morris International by 0.7% in the fourth quarter. Bluesphere Advisors LLC now owns 17,000 shares of the company’s stock worth $1,599,000 after buying an additional 113 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE PM traded down $1.07 during trading hours on Friday, hitting $95.02. The company had a trading volume of 5,391,012 shares, compared to its average volume of 6,541,754. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $100.79. The company has a market cap of $147.71 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The business has a 50 day moving average of $91.90 and a 200-day moving average of $92.18.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. The firm had revenue of $8.79 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. Sell-side analysts expect that Philip Morris International Inc. will post 6.3 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.47%. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PM shares. Stifel Nicolaus upped their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and reduced their price target 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 upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.50.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the transaction, the insider now owns 102,918 shares in the company, valued at approximately $9,412,880.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the sale, the insider now owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the sale, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,250 shares of company stock worth $3,339,528. 0.13% 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.