Cary Street Partners Financial LLC Purchases New Shares in Philip Morris International Inc. (NYSE:PM)

Cary Street Partners Financial LLC acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,826 shares of the company's stock, valued at approximately $942,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PM. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after buying an additional 1,167,810 shares in the last quarter. Capital World Investors grew its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares in the last quarter. GQG Partners LLC grew its position in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after acquiring an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after purchasing an additional 3,185,258 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after purchasing an additional 516,617 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PM shares. Barclays increased their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $166.33.

Philip Morris International Stock Performance

Shares of NYSE:PM traded down $2.39 on Friday, hitting $169.61. 4,733,416 shares of the company were exchanged, compared to its average volume of 5,565,801. The company's 50 day moving average price is $158.92 and its two-hundred day moving average price is $141.05. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $176.49. The firm has a market capitalization of $264.00 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. Research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were paid a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.18%. Philip Morris International's payout ratio is currently 111.34%.

Insider Buying and Selling

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International 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 transaction, the insider now directly owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the sale, the vice president now owns 20,799 shares of the company's stock, valued at $3,117,354.12. This trade represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 over the last quarter. Corporate 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.