Okabena Investment Services Inc. Cuts Position in Philip Morris International Inc. (NYSE:PM)

Okabena Investment Services Inc. reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,116 shares of the company’s stock after selling 660 shares during the quarter. Okabena Investment Services Inc.’s holdings in Philip Morris International were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. Loomis Sayles & Co. L P boosted its stake in Philip Morris International by 7.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,894 shares of the company’s stock valued at $230,000 after acquiring an additional 129 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Philip Morris International by 2.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 320,218 shares of the company’s stock valued at $38,874,000 after acquiring an additional 8,754 shares during the period. Fiduciary Trust Co lifted its holdings in Philip Morris International by 40.0% during the third quarter. Fiduciary Trust Co now owns 32,847 shares of the company’s stock valued at $3,988,000 after purchasing an additional 9,391 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Philip Morris International by 4.8% during the third quarter. Rockefeller Capital Management L.P. now owns 208,989 shares of the company’s stock worth $25,342,000 after purchasing an additional 9,500 shares during the period. Finally, Covey Capital Advisors LLC purchased a new position in shares of Philip Morris International in the third quarter worth about $704,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.67, for a total value of $1,486,700.00. Following the sale, the insider now directly owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total value of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares of the company’s stock, valued at $83,674,681.94. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,822 shares of company stock worth $19,655,585. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $155.17 on Friday. The stock has a market capitalization of $241.27 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The company has a fifty day moving average of $145.83 and a 200-day moving average of $132.10. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PM shares. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus increased their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays boosted their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued 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 a consensus price target of $144.56.

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.