Trust Point Inc. Acquires Shares of 17,229 Philip Morris International Inc. (NYSE:PM)

Trust Point Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PMFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,229 shares of the company’s stock, valued at approximately $1,621,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PM. Moneta Group Investment Advisors LLC increased its holdings in shares of Philip Morris International by 100,700.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock valued at $1,582,939,000 after acquiring an additional 15,624,628 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Philip Morris International by 33.5% during the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after acquiring an additional 4,304,089 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. National Bank of Canada FI increased its holdings in shares of Philip Morris International by 1,034.0% during the third quarter. National Bank of Canada FI now owns 3,203,649 shares of the company’s stock valued at $292,808,000 after acquiring an additional 2,921,136 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Philip Morris International by 3.1% during the second 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. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of the company’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 sale, the insider now directly owns 94,629 shares in the company, valued at $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 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Philip Morris International Stock Down 0.3 %

NYSE:PM traded down $0.29 on Wednesday, hitting $91.53. The stock had a trading volume of 1,164,432 shares, compared to its average volume of 5,370,031. The stock has a market cap of $142.29 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.61. The business’s 50-day simple moving average is $91.46 and its two-hundred day simple moving average is $92.35. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $101.92.

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

Philip Morris International Dividend Announcement

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. The ex-dividend date is Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.68%. Philip Morris International’s payout ratio is currently 103.59%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PM shares. Argus restated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective for the company in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.40.

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About Philip Morris International

(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.

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

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