Parallel Advisors LLC Has $2.28 Million Position in Philip Morris International Inc. (NYSE:PM)

Parallel Advisors LLC grew its holdings in Philip Morris International Inc. (NYSE:PM) by 27.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,942 shares of the company’s stock after buying an additional 4,046 shares during the quarter. Parallel Advisors LLC’s holdings in Philip Morris International were worth $2,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Raymond James Financial Inc. bought a new position in Philip Morris International in the 4th quarter valued at $522,214,000. Massachusetts Financial Services Co. MA increased its stake 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. Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock worth $1,934,083,000 after acquiring an additional 2,785,987 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Philip Morris International by 161.6% during the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after acquiring an additional 1,200,636 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports 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. Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. JPMorgan Chase & Co. increased 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. Finally, UBS Group lifted their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Stock Performance

PM stock opened at $153.79 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51. The company’s 50-day simple moving average is $140.44 and its 200 day simple moving average is $130.64. The company has a market capitalization of $239.12 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53.

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, beating 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, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 40,643 shares of the business’s 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 completion of the transaction, the chairman now owns 561,349 shares of the company’s stock, valued at approximately $83,674,681.94. The trade was a 6.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 547,426 shares in the company, valued at approximately $81,495,308.62. The trade was a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. Company insiders own 0.13% of the company’s stock.

Philip Morris International 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.