ProVise Management Group LLC Sells 4,329 Shares of Philip Morris International Inc. (NYSE:PM)

ProVise Management Group LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,578 shares of the company’s stock after selling 4,329 shares during the quarter. Philip Morris International comprises about 1.6% of ProVise Management Group LLC’s investment portfolio, making the stock its 18th biggest holding. ProVise Management Group LLC’s holdings in Philip Morris International were worth $18,483,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Boston Partners increased its stake in Philip Morris International by 6.5% during the 4th quarter. Boston Partners now owns 6,206,501 shares of the company’s stock valued at $747,774,000 after purchasing an additional 376,796 shares in the last quarter. Generali Asset Management SPA SGR bought a new stake in Philip Morris International during the 4th quarter valued at about $5,978,000. Evoke Wealth LLC increased its stake in Philip Morris International by 14.8% during the 4th quarter. Evoke Wealth LLC now owns 3,003 shares of the company’s stock valued at $365,000 after purchasing an additional 388 shares in the last quarter. Horizon Investments LLC increased its stake in Philip Morris International by 2.2% during the 4th quarter. Horizon Investments LLC now owns 28,335 shares of the company’s stock valued at $3,410,000 after purchasing an additional 616 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Philip Morris International by 2.0% during the 4th quarter. Advisors Asset Management Inc. now owns 125,973 shares of the company’s stock valued at $15,161,000 after purchasing an additional 2,512 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 1.2 %

PM opened at $153.79 on Wednesday. The company has a market cap of $239.12 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.65 and a beta of 0.53. The company’s 50 day moving average is $140.44 and its 200 day moving average is $130.64. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $159.51.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. As a group, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s payout ratio is 119.73%.

Insider Buying and Selling

In other Philip Morris International news, SVP Yann Guerin sold 2,500 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares of the company’s stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PM has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.56.

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.