Convergence Investment Partners LLC Has $869,000 Stake in Philip Morris International Inc. (NYSE:PM)

Convergence Investment Partners LLC trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 46.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,234 shares of the company’s stock after selling 8,125 shares during the period. Convergence Investment Partners LLC’s holdings in Philip Morris International were worth $869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. Ferguson Wellman Capital Management Inc. increased its holdings 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 worth $56,772,000 after buying an additional 13,416 shares in the last quarter. Amica Mutual Insurance Co. increased its holdings in shares of 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 buying an additional 7,726 shares in the last quarter. NewEdge Wealth LLC increased its holdings in shares of 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 buying an additional 20,918 shares in the last quarter. Chiron Investment Management LLC increased its holdings in shares of 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 buying an additional 6,981 shares in the last quarter. Finally, Country Club Bank GFN increased its holdings in shares of 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 buying an additional 13,546 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PM shares. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. UBS Group cut shares of 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 research report on Tuesday, January 23rd. Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price target on the stock in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.50.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were 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 owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Werner Barth sold 5,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $91.46, for a total transaction of $457,300.00. Following the transaction, the insider now directly owns 102,918 shares of the company’s stock, valued at approximately $9,412,880.28. The disclosure for this sale can be found here. Insiders sold 35,250 shares of company stock valued at $3,339,528 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Price Performance

NYSE:PM traded down $1.07 during trading hours on Friday, hitting $95.02. 5,391,012 shares of the company were exchanged, compared to its average volume of 6,541,754. The company’s 50 day moving average price is $91.90 and its 200-day moving average price is $92.18. The stock has a market capitalization of $147.71 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.01 and a beta of 0.61. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $100.79.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The firm had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.38 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 6.3 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Wednesday, March 20th. Philip Morris International’s payout ratio is 101.56%.

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.