Wrapmanager Inc. Reduces Position in Philip Morris International Inc. (NYSE:PM)

Wrapmanager Inc. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 11.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,400 shares of the company’s stock after selling 1,578 shares during the period. Wrapmanager Inc.’s holdings in Philip Morris International were worth $1,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. State Street Corp boosted its holdings in shares of Philip Morris International by 0.4% in the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after acquiring an additional 224,840 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after purchasing an additional 621,034 shares during the last quarter. FMR LLC grew its position in Philip Morris International by 40.9% during 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. Franklin Resources Inc. raised its stake in shares of Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after buying an additional 376,406 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted 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 valued at $1,121,932,000 after buying an additional 3,363,454 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $156.13 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $156.63. The stock’s fifty day moving average is $130.42 and its two-hundred day moving average is $126.81. The firm has a market capitalization of $242.76 billion, a P/E ratio of 34.62, a PEG ratio of 2.65 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its 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%. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Barclays reduced their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.22.

Insider Buying and Selling

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares of the company’s stock, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,143 shares of company stock worth $19,092,846. Insiders own 0.14% of the company’s stock.

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.