Hartford Investment Management Co. Has $9.85 Million Position in Philip Morris International Inc. (NYSE:PM)

Hartford Investment Management Co. trimmed its holdings in Philip Morris International Inc. (NYSE:PMFree Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,678 shares of the company’s stock after selling 2,177 shares during the quarter. Hartford Investment Management Co.’s holdings in Philip Morris International were worth $9,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in shares of Philip Morris International by 3.1% in the 2nd quarter. State Street Corp now owns 58,592,611 shares of the company’s stock valued at $5,793,812,000 after acquiring an additional 1,745,868 shares in the last quarter. Morgan Stanley increased its position in Philip Morris International by 1.0% in the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock valued at $4,403,883,000 after buying an additional 411,358 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 12.6% during the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after acquiring an additional 3,121,732 shares in the last quarter. Invesco Ltd. grew its position in Philip Morris International by 33.5% in the 3rd quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after purchasing an additional 4,304,089 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Philip Morris International by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock worth $1,332,355,000 after buying an additional 260,832 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the sale, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Werner Barth sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the completion of the sale, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold a total of 15,250 shares of company stock valued at $1,411,128 over the last 90 days. 0.15% of the stock is owned by insiders.

Philip Morris International Price Performance

Shares of PM traded down $0.48 during midday trading on Wednesday, hitting $91.34. 1,613,327 shares of the company traded hands, compared to its average volume of 5,376,677. The stock has a 50-day moving average of $91.46 and a 200-day moving average of $92.35. The firm has a market cap of $141.99 billion, a P/E ratio of 18.29, a PEG ratio of 2.06 and a beta of 0.61. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $101.92.

Philip Morris International (NYSE:PMGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the company posted $1.39 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 6.39 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PM shares. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a research report on Tuesday, February 13th. UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and lowered their target price for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Argus reiterated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Hold” and an average price target of $105.40.

View Our Latest Research Report on PM

Philip Morris International Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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