Parvin Asset Management LLC Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Parvin Asset Management LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the fourth quarter, HoldingsChannel reports. The fund bought 10,265 shares of the company’s stock, valued at approximately $1,235,000. Philip Morris International makes up about 1.3% of Parvin Asset Management LLC’s portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Range Financial Group LLC grew its stake in shares of Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after buying an additional 19,127 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Philip Morris International by 18.9% during the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after buying an additional 16,035 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after buying an additional 6,605 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Philip Morris International by 50.9% during the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock worth $6,485,000 after buying an additional 18,183 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Philip Morris International by 6.4% in the fourth quarter. Czech National Bank now owns 337,119 shares of the company’s stock worth $40,572,000 after purchasing an additional 20,390 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $170.28 on Wednesday. Philip Morris International Inc. has a fifty-two week low of $94.42 and a fifty-two week high of $171.63. The firm has a market capitalization of $265.04 billion, a PE ratio of 37.76, a P/E/G ratio of 2.65 and a beta of 0.46. The company’s 50-day moving average is $156.28 and its 200 day moving average is $138.39.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business posted $1.50 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. As a group, analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.17%. Philip Morris International’s dividend payout ratio is presently 111.34%.

Insider Buying and Selling at Philip Morris International

In other news, insider Werner Barth sold 10,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the transaction, the insider now owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This represents a 8.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total value of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares in the company, valued at $83,674,681.94. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,822 shares of company stock worth $19,655,585. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.00.

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.