Convergence Investment Partners LLC Sells 82 Shares of Philip Morris International Inc. (NYSE:PM)

Convergence Investment Partners LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,442 shares of the company’s stock after selling 82 shares during the quarter. Convergence Investment Partners LLC’s holdings in Philip Morris International were worth $1,016,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. grew its stake in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Dunhill Financial LLC boosted its holdings in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Philip Morris International in the fourth quarter valued at $33,000. Sierra Ocean LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at $37,000. Finally, Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.6 %

PM opened at $149.64 on Thursday. The business’s fifty day simple moving average is $128.76 and its 200 day simple moving average is $125.90. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $151.22. The stock has a market cap of $232.67 billion, a PE ratio of 33.18, a P/E/G ratio of 2.63 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.13 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is presently 119.73%.

Insiders Place Their Bets

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares of the company’s stock, valued at $3,117,354.12. The trade was a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PM has been the subject of a number of recent analyst reports. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays reduced their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, UBS Group increased their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.22.

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.