Conning Inc. Sells 5,324 Shares of Philip Morris International Inc. (NYSE:PM)

Conning Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 222,885 shares of the company’s stock after selling 5,324 shares during the quarter. Conning Inc.’s holdings in Philip Morris International were worth $26,824,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Joel Isaacson & Co. LLC lifted its stake in Philip Morris International by 2.2% during the 4th quarter. Joel Isaacson & Co. LLC now owns 8,083 shares of the company’s stock valued at $973,000 after acquiring an additional 173 shares during the period. Platform Technology Partners lifted its stake in Philip Morris International by 8.5% during the 4th quarter. Platform Technology Partners now owns 8,003 shares of the company’s stock valued at $963,000 after acquiring an additional 627 shares during the period. Golden State Wealth Management LLC bought a new position in Philip Morris International during the 4th quarter valued at about $332,000. Beese Fulmer Investment Management Inc. lifted its stake in Philip Morris International by 1.3% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 112,022 shares of the company’s stock valued at $13,482,000 after acquiring an additional 1,457 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Philip Morris International by 3.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 279,575 shares of the company’s stock valued at $33,647,000 after acquiring an additional 10,349 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $144.40 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $146.78. The company has a 50 day simple moving average of $125.44 and a two-hundred day simple moving average of $123.61. The firm has a market cap of $224.51 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55.

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 net margin of 10.35% and a negative return on equity of 117.94%. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.5 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.74%. Philip Morris International’s dividend payout ratio is currently 119.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PM shares. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley started coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. UBS Group upped their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays reduced their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.35.

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.