Intech Investment Management LLC Has $1.99 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Intech Investment Management LLC reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 71.2% in the first quarter, Holdings Channel reports. The institutional investor owned 21,764 shares of the company’s stock after selling 53,688 shares during the period. Intech Investment Management LLC’s holdings in Philip Morris International were worth $1,994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Bank of Nova Scotia grew its holdings in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after buying an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $5,634,000. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Philip Morris International in the 4th quarter worth about $1,251,000. Nebula Research & Development LLC bought a new position in Philip Morris International during the fourth quarter valued at about $857,000. Finally, AJOVista LLC purchased a new stake in Philip Morris International during the fourth quarter worth about $137,000. 78.63% of the stock is owned by institutional investors.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.22.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $0.34 during midday trading on Friday, hitting $107.12. The company had a trading volume of 4,819,336 shares, compared to its average volume of 4,447,859. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $109.18. The stock has a market capitalization of $166.52 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.20 and a beta of 0.58. The company has a 50 day moving average of $102.17 and a 200 day moving average of $95.99.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping 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 8.58%. The firm had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. Philip Morris International’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Philip Morris International Inc. will post 6.34 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 4.85%. Philip Morris International’s payout ratio is currently 101.56%.

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.