SVB Wealth LLC Buys 3,429 Shares of Philip Morris International Inc. (NYSE:PM)

SVB Wealth LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 34.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,305 shares of the company’s stock after acquiring an additional 3,429 shares during the quarter. SVB Wealth LLC’s holdings in Philip Morris International were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PM. Headlands Technologies LLC bought a new position in shares of Philip Morris International in the third quarter worth approximately $27,000. PCA Investment Advisory Services Inc. bought a new stake in Philip Morris International in the 2nd quarter worth $27,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Philip Morris International in the fourth quarter valued at about $33,000. Legacy Financial Group LLC purchased a new position in shares of Philip Morris International in the third quarter valued at about $37,000. Finally, Studio Investment Management LLC raised its stake in shares of Philip Morris International by 33.8% during the fourth quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock valued at $43,000 after acquiring an additional 108 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and reduced their price target for the company 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 Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target for the company 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $105.40.

Insider Activity

In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 9,726 shares of the company’s stock, valued at $882,050.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the transaction, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,250 shares of company stock worth $1,411,128. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 0.7 %

Shares of PM stock opened at $91.18 on Friday. The business’s fifty day moving average is $91.11 and its 200 day moving average is $92.01. The stock has a market cap of $141.74 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.89 and a beta of 0.61. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). The business had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 6.37 earnings per share for the current fiscal 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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is 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.