Parisi Gray Wealth Management Acquires New Position in Philip Morris International Inc. (NYSE:PM)

Parisi Gray Wealth Management acquired a new position in shares of Philip Morris International Inc. (NYSE:PM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,126 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. PFG Investments LLC raised its stake in Philip Morris International by 1.9% during the 4th quarter. PFG Investments LLC now owns 5,951 shares of the company’s stock valued at $560,000 after purchasing an additional 109 shares during the period. Schechter Investment Advisors LLC boosted its holdings in Philip Morris International by 9.5% during the fourth quarter. Schechter Investment Advisors LLC now owns 28,729 shares of the company’s stock valued at $2,703,000 after acquiring an additional 2,501 shares during the period. Rockwood Wealth Management LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at about $1,523,000. Red Door Wealth Management LLC raised its position in Philip Morris International by 2.8% in the fourth quarter. Red Door Wealth Management LLC now owns 17,052 shares of the company’s stock worth $1,604,000 after purchasing an additional 469 shares in the last quarter. Finally, Aprio Wealth Management LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth approximately $233,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and reduced their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. Argus reissued a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price for the company in a report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.40.

Philip Morris International Stock Performance

PM traded down $0.16 during trading on Thursday, reaching $92.07. 376,703 shares of the company traded hands, compared to its average volume of 5,349,210. The firm has a fifty day simple moving average of $91.56 and a 200 day simple moving average of $92.48. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $101.92. The company has a market cap of $142.93 billion, a P/E ratio of 18.39, a PEG ratio of 2.04 and a beta of 0.61.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a net margin of 8.53% and a negative return on equity of 116.29%. The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.39 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.65%. The ex-dividend date is Wednesday, March 20th. Philip Morris International’s payout ratio is currently 103.59%.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 94,629 shares in the company, valued at approximately $8,860,113.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the sale, the insider now owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,250 shares of company stock worth $1,411,128. 0.13% of the stock is currently owned by company 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.