Wedge Capital Management L L P NC Sells 19,052 Shares of Philip Morris International Inc. (NYSE:PM)

Wedge Capital Management L L P NC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 234,588 shares of the company’s stock after selling 19,052 shares during the period. Wedge Capital Management L L P NC’s holdings in Philip Morris International were worth $28,233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. boosted its position in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC lifted its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Philip Morris International in the third quarter valued at about $54,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Philip Morris International in the third quarter worth about $58,000. Institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PM. UBS Group increased their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Stock Up 1.7 %

Shares of NYSE:PM opened at $121.88 on Friday. The stock has a market cap of $189.51 billion, a PE ratio of 19.35, a P/E/G ratio of 1.86 and a beta of 0.54. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The business has a 50 day moving average of $125.59 and a 200-day moving average of $121.05.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

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.