RNC Capital Management LLC Has $1.66 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

RNC Capital Management LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,609 shares of the company’s stock after selling 2,699 shares during the quarter. RNC Capital Management LLC’s holdings in Philip Morris International were worth $1,657,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Philip Morris International during the third quarter valued at about $27,000. PCA Investment Advisory Services Inc. acquired a new stake in Philip Morris International in the second quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. acquired a new stake in Philip Morris International in the third quarter valued at approximately $36,000. Legacy Financial Group LLC acquired a new stake in Philip Morris International in the third quarter valued at approximately $37,000. Finally, VitalStone Financial LLC grew its stake in Philip Morris International by 950.0% in the second quarter. VitalStone Financial LLC now owns 420 shares of the company’s stock valued at $41,000 after acquiring an additional 380 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on PM. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and cut their target price for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.40.

Philip Morris International Stock Up 2.0 %

Shares of NYSE PM opened at $92.23 on Thursday. The firm has a market capitalization of $143.18 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.04 and a beta of 0.61. The stock’s 50-day simple moving average is $91.56 and its two-hundred day simple moving average is $92.48. 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 posted its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.99 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. Philip Morris International’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts anticipate that Philip Morris International Inc. will post 6.39 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Thursday, March 21st will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Wednesday, March 20th. Philip Morris International’s dividend payout ratio is presently 103.59%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 5,000 shares of the stock in a transaction dated 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 directly owns 102,918 shares in the company, valued at approximately $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’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 approximately $8,860,113.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 5,000 shares of the company’s stock in a transaction that occurred 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 directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock worth $1,411,128 in the last ninety days. 0.13% of the stock is owned by company 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.