WASHINGTON TRUST Co Purchases 150 Shares of Philip Morris International Inc. (NYSE:PM)

WASHINGTON TRUST Co lifted its stake in Philip Morris International Inc. (NYSE:PM) by 2.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,279 shares of the company’s stock after purchasing an additional 150 shares during the period. WASHINGTON TRUST Co’s holdings in Philip Morris International were worth $685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its stake in Philip Morris International by 100,700.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock worth $1,582,939,000 after buying an additional 15,624,628 shares in the last quarter. Invesco Ltd. grew its position 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 purchasing an additional 4,304,089 shares in the last quarter. Wellington Management Group LLP grew its position 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 purchasing an additional 3,121,732 shares in the last quarter. National Bank of Canada FI grew its position 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 purchasing an additional 2,921,136 shares in the last quarter. Finally, State Street Corp lifted its holdings 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 during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PM. UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and cut their price objective for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Argus reissued a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $105.40.

Philip Morris International Stock Performance

NYSE PM traded down $0.26 on Thursday, reaching $91.97. 2,210,415 shares of the company’s stock traded hands, compared to its average volume of 5,379,173. The firm has a market cap of $142.78 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.04 and a beta of 0.61. The stock has a 50 day moving average price of $91.56 and a 200-day moving average price of $92.48. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $101.92.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period in the prior year, the firm earned $1.39 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 6.39 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.65%. Philip Morris International’s payout ratio is 103.59%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the sale, the insider now directly owns 102,918 shares in the company, valued at approximately $9,412,880.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were 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 $882,050.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the insider now directly owns 102,918 shares in the company, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,250 shares of company stock worth $1,411,128. 0.13% of the stock is currently owned by insiders.

Philip Morris International 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.