Philip Morris International Inc. (NYSE:PM) Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its position in Philip Morris International Inc. (NYSE:PM) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,734,105 shares of the company’s stock after selling 185,339 shares during the quarter. Royal Bank of Canada’s holdings in Philip Morris International were worth $690,098,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PM. NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter valued at $33,000. Knuff & Co LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $36,000. Sierra Ocean LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $37,000. Finally, Transce3nd LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of research analyst reports. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Stifel Nicolaus raised their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Barclays raised their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Citigroup raised their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $166.33.

Philip Morris International Price Performance

Philip Morris International stock opened at $170.38 on Friday. The stock’s 50-day moving average is $160.35 and its 200-day moving average is $142.26. The company has a market cap of $265.20 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $176.49.

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

Philip Morris International Dividend Announcement

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

Insider Activity at Philip Morris International

In related news, CEO Jacek Olczak sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the sale, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Emmanuel Babeau sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the sale, the chief financial officer now owns 139,105 shares in the company, valued at approximately $20,705,779.25. The trade was a 17.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,822 shares of company stock worth $18,906,185. 0.13% of the stock is currently owned by company insiders.

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.