Two Sigma Investments LP Sells 1,089,375 Shares of Philip Morris International Inc. (NYSE:PM)

Two Sigma Investments LP lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 73.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 393,905 shares of the company's stock after selling 1,089,375 shares during the period. Two Sigma Investments LP's holdings in Philip Morris International were worth $47,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PM. NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at about $33,000. Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the fourth quarter valued at about $36,000. Sierra Ocean LLC bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $37,000. Finally, Transce3nd LLC purchased a new position in shares of Philip Morris International in the 4th quarter worth approximately $41,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 1.6%

Shares of NYSE PM opened at $173.11 on Tuesday. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $176.49. The business's 50 day moving average price is $160.79 and its 200 day moving average price is $142.70. The firm has a market cap of $269.45 billion, a P/E ratio of 38.38, a P/E/G ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. As a group, research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.12%. The ex-dividend date was Thursday, March 20th. Philip Morris International's dividend payout ratio is currently 111.34%.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 40,643 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the completion of the transaction, the chairman now directly owns 561,349 shares of the company's stock, valued at $83,674,681.94. The trade was a 6.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the sale, the chief executive officer now owns 547,426 shares in the company, valued at approximately $81,495,308.62. This represents a 6.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,822 shares of company stock valued at $18,906,185. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PM shares. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $166.33.

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.

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