Abacus Planning Group Inc. Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

Abacus Planning Group Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,700 shares of the company’s stock after selling 103 shares during the quarter. Abacus Planning Group Inc.’s holdings in Philip Morris International were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. National Bank of Canada FI raised its holdings in shares of Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after purchasing an additional 1,165,554 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Philip Morris International by 13,666.6% in the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after purchasing an additional 992,467 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $149.64 on Thursday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $151.22. The business’s 50-day simple moving average is $128.76 and its 200 day simple moving average is $125.90. The company has a market cap of $232.67 billion, a P/E ratio of 33.18, a PEG ratio of 2.63 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Analysts predict that Philip Morris International Inc. will post 7.13 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is currently 119.73%.

Insider Activity

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now directly owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays cut their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. UBS Group raised their target price on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.22.

Philip Morris International Company 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.