Parallel Advisors LLC Has $2.28 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Parallel Advisors LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 27.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 18,942 shares of the company’s stock after buying an additional 4,046 shares during the quarter. Parallel Advisors LLC’s holdings in Philip Morris International were worth $2,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Range Financial Group LLC increased its holdings in Philip Morris International by 504.9% in the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,127 shares during the period. Park Avenue Securities LLC grew its position in shares of Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after buying an additional 16,035 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after acquiring an additional 6,605 shares during the period. Ritholtz Wealth Management increased its position in Philip Morris International by 50.9% during the 4th quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock valued at $6,485,000 after purchasing an additional 18,183 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Philip Morris International by 182.4% during the 3rd quarter. Brooklyn Investment Group now owns 6,815 shares of the company’s stock worth $827,000 after purchasing an additional 4,402 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of analyst reports. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Stifel Nicolaus boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays increased their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, UBS Group lifted 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. One investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Buying and Selling at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jacek Olczak sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the sale, the chief executive officer now directly owns 547,426 shares of the company’s stock, valued at $81,495,308.62. This represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock worth $19,655,585 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Down 1.2 %

Shares of NYSE:PM opened at $153.79 on Wednesday. The stock 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 business’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 issued 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, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

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

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.