Meritage Portfolio Management Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Meritage Portfolio Management lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,357 shares of the company’s stock after selling 418 shares during the quarter. Meritage Portfolio Management’s holdings in Philip Morris International were worth $6,243,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PM. Ziegler Capital Management LLC raised its position in Philip Morris International by 1.1% in the third quarter. Ziegler Capital Management LLC now owns 27,147 shares of the company’s stock worth $2,513,000 after acquiring an additional 300 shares in the last quarter. Royal Fund Management LLC raised its position in Philip Morris International by 3.0% in the third quarter. Royal Fund Management LLC now owns 9,413 shares of the company’s stock worth $871,000 after acquiring an additional 277 shares in the last quarter. Howland Capital Management LLC raised its position in Philip Morris International by 2.8% in the third quarter. Howland Capital Management LLC now owns 6,346 shares of the company’s stock worth $596,000 after acquiring an additional 170 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of Philip Morris International by 97.4% in the third quarter. Meridian Wealth Management LLC now owns 26,360 shares of the company’s stock valued at $2,441,000 after buying an additional 13,005 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its position in shares of Philip Morris International by 8.0% in the third quarter. Wagner Wealth Management LLC now owns 8,211 shares of the company’s stock valued at $760,000 after buying an additional 606 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $1.04 during mid-day trading on Friday, hitting $95.05. 3,004,838 shares of the company traded hands, compared to its average volume of 5,741,192. The firm has a market cap of $147.76 billion, a P/E ratio of 18.70, a PEG ratio of 2.09 and a beta of 0.61. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $100.79. The firm’s 50 day simple moving average is $91.79 and its 200 day simple moving average is $92.18.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. The business had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the business posted $1.38 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Philip Morris International Inc. will post 6.29 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 annualized dividend and a yield of 5.47%. Philip Morris International’s dividend payout ratio is presently 101.56%.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 8,250 shares of Philip Morris International 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 completion of the transaction, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International 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 completion of the transaction, the vice president now owns 9,726 shares in the company, valued at approximately $882,050.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the transaction, the insider now owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock worth $1,411,128 in the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PM. Argus restated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and decreased their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a research note on Tuesday, February 13th. Finally, Stifel Nicolaus increased their price objective on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Hold” and a consensus price target of $105.50.

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.