Sound View Wealth Advisors Group LLC Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Sound View Wealth Advisors Group LLC cut its stake in Philip Morris International Inc. (NYSE:PM) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,150 shares of the company’s stock after selling 671 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Philip Morris International were worth $5,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kornitzer Capital Management Inc. KS boosted its stake in shares of Philip Morris International by 7.7% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 5,437 shares of the company’s stock valued at $660,000 after buying an additional 391 shares during the period. Beckerman Institutional LLC purchased a new stake in shares of Philip Morris International in the third quarter valued at approximately $462,000. Leavell Investment Management Inc. boosted its position in Philip Morris International by 2.3% during the third quarter. Leavell Investment Management Inc. now owns 10,606 shares of the company’s stock worth $1,302,000 after purchasing an additional 242 shares in the last quarter. Equitable Trust Co. lifted its position in shares of Philip Morris International by 12.5% in the third quarter. Equitable Trust Co. now owns 14,174 shares of the company’s stock valued at $1,721,000 after acquiring an additional 1,575 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Philip Morris International in the third quarter valued at $2,136,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PM shares. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. JPMorgan Chase & Co. increased their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. UBS Group raised their target price on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Barclays raised their price objective on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Stock Performance

Philip Morris International stock opened at $151.05 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51. The firm has a market capitalization of $234.87 billion, a PE ratio of 33.49, a PEG ratio of 2.65 and a beta of 0.53. The business’s 50-day simple moving average is $136.06 and its 200-day simple moving average is $129.07.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping 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%. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.57%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Insider Buying and Selling

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the sale, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. This represents a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the sale, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock worth $19,655,585 in the last quarter. Insiders own 0.13% of the company’s stock.

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.