Wright Investors Service Inc. Has $6.06 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Wright Investors Service Inc. trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,455 shares of the company’s stock after selling 9,452 shares during the quarter. Philip Morris International comprises about 1.7% of Wright Investors Service Inc.’s holdings, making the stock its 11th biggest position. Wright Investors Service Inc.’s holdings in Philip Morris International were worth $6,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Philip Morris International in the third quarter worth $27,000. PCA Investment Advisory Services Inc. bought a new stake in Philip Morris International in the second quarter worth about $27,000. Tennessee Valley Asset Management Partners bought a new stake in Philip Morris International in the fourth quarter worth about $33,000. Legacy Financial Group LLC bought a new stake in Philip Morris International in the third quarter worth about $37,000. Finally, Studio Investment Management LLC raised its position in Philip Morris International by 33.8% in the fourth quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock worth $43,000 after acquiring an additional 108 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.4 %

Shares of Philip Morris International stock traded up $0.35 during trading on Thursday, reaching $90.93. The company’s stock had a trading volume of 1,061,729 shares, compared to its average volume of 5,434,125. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $101.92. The company has a market cap of $141.36 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.87 and a beta of 0.61. The firm’s 50-day moving average is $91.07 and its two-hundred day moving average is $92.02.

Philip Morris International (NYSE:PM) last announced 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). The firm had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.99 billion. Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.37 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.72%. Philip Morris International’s payout ratio is currently 103.59%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were 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 directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Massimo Andolina sold 8,250 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now directly owns 94,629 shares in the company, valued at approximately $8,860,113.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 5,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders sold 15,250 shares of company stock valued at $1,411,128 in the last quarter. Company insiders own 0.13% of the company’s stock.

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.