Nuveen Asset Management LLC Sells 458,552 Shares of Philip Morris International Inc. (NYSE:PM)

Nuveen Asset Management LLC reduced its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,564,202 shares of the company's stock after selling 458,552 shares during the quarter. Nuveen Asset Management LLC owned about 0.68% of Philip Morris International worth $1,271,402,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC grew its position in shares of Philip Morris International by 53.7% in 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 during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Philip Morris International during the fourth quarter worth about $33,000. Knuff & Co LLC acquired a new stake in Philip Morris International during the fourth quarter worth about $36,000. Sierra Ocean LLC acquired a new stake in Philip Morris International during the fourth quarter worth about $37,000. Finally, Transce3nd LLC acquired a new stake in Philip Morris International during the fourth quarter worth about $41,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of recent research reports. Citigroup lifted their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Barclays lifted their target price on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and upped their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.33.

Philip Morris International Stock Up 0.7%

PM stock traded up $1.24 during trading on Friday, hitting $170.38. The company had a trading volume of 3,802,405 shares, compared to its average volume of 5,608,683. The firm has a 50-day moving average price of $159.99 and a 200-day moving average price of $141.99. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $176.49. The stock has a market cap of $265.20 billion, a price-to-earnings ratio of 37.78, 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 data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the company posted $1.50 EPS. Philip Morris International's revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Insider Buying and Selling

In other Philip Morris International news, SVP Yann Guerin sold 2,500 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the sale, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. The trade was a 7.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jacek Olczak sold 40,000 shares of the company'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 of the company's stock, valued at $81,495,308.62. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 126,822 shares of company stock worth $18,906,185 in the last quarter. 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.