Summit X LLC Sells 5,249 Shares of Philip Morris International Inc. (NYSE:PM)

Summit X LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 60.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,485 shares of the company’s stock after selling 5,249 shares during the quarter. Summit X LLC’s holdings in Philip Morris International were worth $419,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC increased its holdings in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC increased its holdings in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $33,000. Finally, Sierra Ocean LLC acquired a new position in shares of Philip Morris International during the 4th quarter worth approximately $37,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE:PM opened at $152.45 on Wednesday. The stock has a fifty day moving average price of $137.30 and a 200-day moving average price of $129.58. The company has a market cap of $237.03 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $159.51.

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, 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%. Research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm 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 dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.54%. Philip Morris International’s dividend payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. Stifel Nicolaus upped their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. UBS Group upped their price objective on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. Finally, StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

Insider Buying and Selling

In related news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares of the company’s stock, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 in the last ninety days. 0.13% of the stock is owned by insiders.

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.