Pictet Asset Management Holding SA Sells 9,254 Shares of Philip Morris International Inc. (NYSE:PM)

Pictet Asset Management Holding SA lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 645,694 shares of the company’s stock after selling 9,254 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Philip Morris International were worth $77,709,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PM. NewSquare Capital LLC raised its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Dunhill Financial LLC increased its holdings in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth approximately $33,000. Knuff & Co LLC bought a new position in shares of Philip Morris International in the fourth quarter valued at approximately $36,000. Finally, Sierra Ocean LLC purchased a new position in shares of Philip Morris International during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays increased their price target 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. Morgan Stanley started coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped 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, February 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.56.

Insider Transactions at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the transaction, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the sale, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock worth $19,655,585 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Up 0.1 %

Shares of PM stock opened at $155.17 on Friday. The firm has a market cap of $241.27 billion, a P/E ratio of 34.41, a PEG ratio of 2.65 and a beta of 0.53. The company has a 50 day moving average of $145.83 and a 200-day moving average of $132.14. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $159.51.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.48%. Philip Morris International’s dividend payout ratio is presently 119.73%.

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.