Van ECK Associates Corp Sells 13,544 Shares of Philip Morris International Inc. (NYSE:PM)

Van ECK Associates Corp decreased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,257 shares of the company's stock after selling 13,544 shares during the period. Van ECK Associates Corp's holdings in Philip Morris International were worth $3,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PM. Concord Wealth Partners boosted its stake in Philip Morris International by 114.2% during the third quarter. Concord Wealth Partners now owns 4,441 shares of the company's stock worth $411,000 after buying an additional 2,368 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Philip Morris International by 2.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 283,296 shares of the company's stock valued at $26,228,000 after acquiring an additional 6,754 shares during the period. Calamos Wealth Management LLC lifted its holdings in shares of Philip Morris International by 3.5% during the third quarter. Calamos Wealth Management LLC now owns 9,389 shares of the company's stock valued at $869,000 after acquiring an additional 320 shares during the period. Sky Investment Group LLC lifted its holdings in shares of Philip Morris International by 0.3% during the third quarter. Sky Investment Group LLC now owns 80,431 shares of the company's stock valued at $7,446,000 after acquiring an additional 272 shares during the period. Finally, Cambridge Trust Co. lifted its holdings in shares of Philip Morris International by 23.8% during the third quarter. Cambridge Trust Co. now owns 2,712 shares of the company's stock valued at $251,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Up 0.1 %

PM stock traded up $0.05 during midday trading on Monday, reaching $97.45. The stock had a trading volume of 3,895,061 shares, compared to its average volume of 5,744,928. The business has a fifty day simple moving average of $92.47 and a two-hundred day simple moving average of $92.30. The firm has a market cap of $151.49 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.08 and a beta of 0.60. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $100.70.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion during 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 company's revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.34%. Philip Morris International's payout ratio is currently 101.56%.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Massimo Andolina sold 8,250 shares of the business's stock in a transaction that occurred on 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 directly owns 94,629 shares in the company, valued at approximately $8,860,113.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the transaction, the insider now owns 178,447 shares of the company's stock, valued at $17,205,859.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,250 shares of company stock worth $3,339,528. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Argus reissued a "hold" rating on shares of Philip Morris International in a report on Tuesday, March 5th. Societe Generale raised Philip Morris International from a "sell" rating to a "hold" rating and set a $87.50 price target for the company in a report on Tuesday, February 13th. UBS Group cut Philip Morris International from a "buy" rating to a "sell" rating and cut their price target for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus lifted their price target on Philip Morris International from $108.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of "Hold" and a consensus 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.