Philip Morris International Inc. (NYSE:PM) Shares Sold by First Long Island Investors LLC

First Long Island Investors LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,764 shares of the company’s stock after selling 5,400 shares during the quarter. Philip Morris International accounts for about 1.7% of First Long Island Investors LLC’s investment portfolio, making the stock its 23rd largest holding. First Long Island Investors LLC’s holdings in Philip Morris International were worth $20,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Bank of Nova Scotia raised its position in shares of Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Philip Morris International by 2.3% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock valued at $56,772,000 after acquiring an additional 13,416 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Philip Morris International during the 1st quarter valued at approximately $5,634,000. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $1,251,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $857,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their target price on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.22.

Philip Morris International Price Performance

Shares of PM traded up $2.24 during trading hours on Thursday, reaching $105.00. 3,739,370 shares of the company’s stock traded hands, compared to its average volume of 5,392,619. The firm has a market capitalization of $163.23 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.11 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $105.00. The business’s fifty day simple moving average is $101.16 and its two-hundred day simple moving average is $95.45.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The company had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 6.32 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

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.