Cornerstone Advisory LLC Acquires 428 Shares of Philip Morris International Inc. (NYSE:PM)

Cornerstone Advisory LLC lifted its position in Philip Morris International Inc. (NYSE:PM) by 7.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,346 shares of the company’s stock after purchasing an additional 428 shares during the quarter. Cornerstone Advisory LLC’s holdings in Philip Morris International were worth $597,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PM. Invesco Ltd. grew its holdings in shares of Philip Morris International by 33.5% in the 3rd quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock worth $1,587,542,000 after purchasing an additional 4,304,089 shares during the last quarter. Wellington Management Group LLP lifted its position in Philip Morris International by 12.6% during the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after buying an additional 3,121,732 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock worth $996,104,000 after buying an additional 2,123,311 shares in the last quarter. London Co. of Virginia lifted its position in Philip Morris International by 52.2% during the 3rd quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock worth $287,956,000 after buying an additional 1,066,871 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Philip Morris International by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,841,714 shares of the company’s stock worth $448,246,000 after buying an additional 958,894 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the sale, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the sale, the insider now directly owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold 35,250 shares of company stock worth $3,339,528 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 1.6 %

Shares of NYSE:PM traded up $1.62 during mid-day trading on Monday, reaching $103.00. The stock had a trading volume of 6,327,494 shares, compared to its average volume of 5,546,802. The firm has a market cap of $160.12 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. The firm has a 50 day simple moving average of $95.41 and a two-hundred day simple moving average of $93.62. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $103.18.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. Philip Morris International’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.38 EPS. On average, equities analysts anticipate that Philip Morris International Inc. will post 6.29 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a $1.30 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.05%. Philip Morris International’s dividend payout ratio is 101.56%.

Analyst Ratings Changes

Several brokerages recently issued reports on PM. Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Societe Generale upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a research report on Tuesday, February 13th. Finally, Argus restated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $105.50.

Philip Morris International Company 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.