Summit X LLC Has $419,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Summit X LLC lessened its position in Philip Morris International Inc. (NYSE:PM) by 60.1% in the fourth quarter, HoldingsChannel reports. The fund owned 3,485 shares of the company’s stock after selling 5,249 shares during the quarter. Summit X LLC’s holdings in Philip Morris International were worth $419,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. grew its position in Philip Morris International by 0.8% during the third quarter. Crossmark Global Holdings Inc. now owns 16,002 shares of the company’s stock worth $1,943,000 after buying an additional 122 shares in the last quarter. Keystone Financial Services boosted its position in Philip Morris International by 8.7% during the 3rd quarter. Keystone Financial Services now owns 10,414 shares of the company’s stock valued at $1,264,000 after buying an additional 837 shares during the period. Entropy Technologies LP boosted its position in Philip Morris International by 111.3% during the 3rd quarter. Entropy Technologies LP now owns 56,864 shares of the company’s stock valued at $6,903,000 after buying an additional 29,958 shares during the period. Harbour Investments Inc. lifted its holdings in Philip Morris International by 3.4% in the 3rd quarter. Harbour Investments Inc. now owns 11,805 shares of the company’s stock worth $1,433,000 after buying an additional 387 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Philip Morris International in the 3rd quarter worth approximately $749,000. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacek Olczak sold 40,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the completion of the sale, the chief executive officer now directly owns 547,426 shares of the company’s stock, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 in the last three months. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 1.2 %

Shares of NYSE PM opened at $152.45 on Wednesday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.51. The firm has a market cap of $237.03 billion, a P/E ratio of 33.80, a PEG ratio of 2.65 and a beta of 0.53. The company has a 50 day moving average of $137.30 and a 200 day moving average of $129.58.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data 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%. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $1.35 dividend. The ex-dividend date is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.54%. Philip Morris International’s payout ratio is currently 119.73%.

Analyst Ratings Changes

Several analysts have weighed in on PM shares. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays lifted their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

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.