Cognios Beta Neutral Large Cap Fund LP Has $685,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Cognios Beta Neutral Large Cap Fund LP decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,276 shares of the company’s stock after selling 288 shares during the period. Philip Morris International makes up about 0.9% of Cognios Beta Neutral Large Cap Fund LP’s portfolio, making the stock its 24th largest position. Cognios Beta Neutral Large Cap Fund LP’s holdings in Philip Morris International were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. boosted its position in shares of Philip Morris International by 2.3% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock valued at $56,772,000 after buying an additional 13,416 shares during the last quarter. Amica Mutual Insurance Co. lifted its holdings in Philip Morris International by 5.5% during the third quarter. Amica Mutual Insurance Co. now owns 147,492 shares of the company’s stock worth $13,655,000 after acquiring an additional 7,726 shares during the period. NewEdge Wealth LLC lifted its holdings in Philip Morris International by 69.9% during the fourth quarter. NewEdge Wealth LLC now owns 50,865 shares of the company’s stock worth $4,785,000 after acquiring an additional 20,918 shares during the period. Chiron Investment Management LLC lifted its holdings in Philip Morris International by 2.0% during the third quarter. Chiron Investment Management LLC now owns 354,558 shares of the company’s stock worth $32,825,000 after acquiring an additional 6,981 shares during the period. Finally, Country Club Bank GFN lifted its holdings in Philip Morris International by 21.3% during the fourth quarter. Country Club Bank GFN now owns 77,246 shares of the company’s stock worth $7,267,000 after acquiring an additional 13,546 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 8,250 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the transaction, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the transaction, the vice president now owns 9,726 shares of the company’s stock, valued at $882,050.94. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock worth $1,411,128 over the last ninety days. 0.14% of the stock is owned by corporate insiders.

Philip Morris International Trading Up 1.4 %

Shares of NYSE PM traded up $1.37 during mid-day trading on Wednesday, hitting $99.03. The company had a trading volume of 13,572,168 shares, compared to its average volume of 5,755,332. The company has a market capitalization of $153.95 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 1.97 and a beta of 0.61. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.79. The stock’s 50-day moving average price is $91.46 and its 200-day moving average price is $92.10.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. As a group, equities research analysts forecast that Philip Morris International Inc. will post 6.36 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s payout ratio is 103.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PM. Societe Generale upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a report on Tuesday, February 13th. UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and dropped their price target for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. Stifel Nicolaus boosted their target price on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Argus restated a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has an average rating of “Hold” and an average target price 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.