Hubbell Strickland Wealth Management LLC Sells 870 Shares of Philip Morris International Inc. (NYSE:PM)

Hubbell Strickland Wealth Management LLC lessened its stake in Philip Morris International Inc. (NYSE:PM) by 29.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,113 shares of the company’s stock after selling 870 shares during the quarter. Hubbell Strickland Wealth Management LLC’s holdings in Philip Morris International were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PM. Valley Wealth Managers Inc. grew its position in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC grew its position in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Concord Wealth Partners grew its position in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Philip Morris International in the third quarter worth $54,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Philip Morris International in the fourth quarter worth $54,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PM. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday. They set an “overweight” rating and a $140.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Stock Up 1.7 %

Shares of NYSE:PM traded up $2.08 during midday trading on Friday, hitting $121.88. 5,165,969 shares of the stock traded hands, compared to its average volume of 3,837,312. The stock has a market capitalization of $189.51 billion, a PE ratio of 19.35, a P/E/G ratio of 1.86 and a beta of 0.54. The business’s 50 day moving average is $125.59 and its two-hundred day moving average is $121.05. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

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.