Concord Wealth Partners Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Concord Wealth Partners cut its position in Philip Morris International Inc. (NYSE:PM) by 91.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395 shares of the company’s stock after selling 4,046 shares during the period. Concord Wealth Partners’ holdings in Philip Morris International were worth $37,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Philip Morris International during the third quarter worth approximately $27,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Philip Morris International in the 4th quarter valued at $33,000. Legacy Financial Group LLC acquired a new stake in Philip Morris International during the 3rd quarter worth $37,000. Wetzel Investment Advisors Inc. acquired a new stake in Philip Morris International during the 4th quarter worth $39,000. Finally, McClarren Financial Advisors Inc. lifted its position in Philip Morris International by 158.0% in the fourth quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $43,000 after acquiring an additional 278 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction dated Friday, March 15th. The shares were 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 owns 94,629 shares in the company, valued at $8,860,113.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,250 shares of company stock worth $3,339,528. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Performance

PM stock opened at $97.40 on Friday. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $100.70. The company has a fifty day moving average of $92.36 and a 200-day moving average of $92.28. The stock has a market capitalization of $151.41 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.07 and a beta of 0.60.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share 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 firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. Equities analysts forecast that Philip Morris International Inc. will post 6.29 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Argus reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. UBS Group cut 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. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective for the company in a report on Tuesday, February 13th. Finally, Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.50.

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.