Russell Investments Group Ltd. Sells 25,871 Shares of Philip Morris International Inc. (NYSE:PM)

Russell Investments Group Ltd. cut its stake in Philip Morris International Inc. (NYSE:PM) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,262 shares of the company’s stock after selling 25,871 shares during the quarter. Russell Investments Group Ltd.’s holdings in Philip Morris International were worth $22,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in shares of Philip Morris International in the third quarter worth approximately $27,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Philip Morris International during the 4th quarter worth $33,000. Legacy Financial Group LLC bought a new stake in shares of Philip Morris International during the 3rd quarter valued at $37,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Philip Morris International in the 4th quarter worth $39,000. Finally, McClarren Financial Advisors Inc. raised its holdings in Philip Morris International by 158.0% in the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock worth $43,000 after purchasing an additional 278 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

PM stock opened at $96.04 on Thursday. The company’s fifty day moving average price is $92.23 and its 200-day moving average price is $92.25. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $100.70. The company has a market capitalization of $149.30 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60.

Philip Morris International (NYSE:PM) last announced 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 business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. On average, research analysts predict that Philip Morris International Inc. will post 6.3 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group cut 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 research report on Tuesday, January 23rd. Stifel Nicolaus increased their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. Finally, Argus reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Hold” and an average target price of $105.50.

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the transaction, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $772,447.50. Following the sale, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold a total of 35,250 shares of company stock valued at $3,339,528 in the last quarter. 0.13% of the stock is currently owned by insiders.

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.