Redwood Investment Management LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Redwood Investment Management LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,327 shares of the company’s stock after selling 603 shares during the quarter. Redwood Investment Management LLC’s holdings in Philip Morris International were worth $1,845,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PM. Ritholtz Wealth Management raised its stake in shares of Philip Morris International by 50.9% in the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock valued at $6,485,000 after acquiring an additional 18,183 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its position in Philip Morris International by 23.3% in the 4th 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 period. Empire Life Investments Inc. raised its position in Philip Morris International by 11.6% in the 4th 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 period. Game Plan Financial Advisors LLC lifted its stake in Philip Morris International by 80.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company’s stock worth $922,000 after purchasing an additional 3,425 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PM. Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. 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 note on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Finally, Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $166.33.

Insider Activity at Philip Morris International

In other news, insider Werner Barth sold 10,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the sale, the insider now directly owns 106,244 shares of the company’s stock, valued at $15,795,295.48. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Emmanuel Babeau sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.85, for a total value of $4,465,500.00. Following the completion of the transaction, the chief financial officer now owns 139,105 shares of the company’s stock, valued at $20,705,779.25. This trade represents a 17.74% 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 ninety days. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock opened at $168.93 on Friday. The stock’s 50-day moving average is $159.99 and its 200 day moving average is $141.99. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $176.49. The company has a market cap of $262.94 billion, a P/E ratio of 37.46, a PEG ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Philip Morris International’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a $1.35 dividend. 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 3.20%. Philip Morris International’s payout ratio is 111.34%.

About Philip Morris International

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.