Philip Morris International Inc. (NYSE:PM) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,734,105 shares of the company's stock after selling 185,339 shares during the period. Royal Bank of Canada owned 0.37% of Philip Morris International worth $690,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ritholtz Wealth Management raised its position in shares of Philip Morris International by 50.9% during the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company's stock valued at $6,485,000 after buying an additional 18,183 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in Philip Morris International by 23.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company's stock worth $6,828,000 after purchasing an additional 10,703 shares during the last quarter. Empire Life Investments Inc. increased its position in Philip Morris International by 11.6% in the fourth quarter. Empire Life Investments Inc. now owns 94,423 shares of the company's stock worth $11,364,000 after purchasing an additional 9,789 shares during the last quarter. Game Plan Financial Advisors LLC boosted its stake in Philip Morris International by 80.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company's stock worth $922,000 after buying an additional 3,425 shares during the period. Finally, Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PM shares. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. StockNews.com raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.33.

Insider Transactions at Philip Morris International

In related news, SVP Yann Guerin sold 2,500 shares of Philip Morris International stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the sale, the senior vice president now owns 30,308 shares of the company's stock, valued at approximately $4,584,994.24. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 126,822 shares of company stock valued at $18,906,185 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Up 0.3%

Shares of NYSE PM traded up $0.48 during midday trading on Wednesday, reaching $174.60. 6,175,300 shares of the stock were exchanged, compared to its average volume of 5,599,335. The firm has a market cap of $271.77 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $176.49. The firm has a 50-day simple moving average of $161.26 and a two-hundred day simple moving average of $142.92.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion for 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 revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. Research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.09%. Philip Morris International's payout ratio is 111.34%.

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.