Sound View Wealth Advisors Group LLC Has $5.31 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Sound View Wealth Advisors Group LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,150 shares of the company’s stock after selling 671 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Philip Morris International were worth $5,313,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PM. FMR LLC raised its holdings in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Raymond James Financial Inc. acquired a new stake in Philip Morris International in the fourth quarter worth $522,214,000. Massachusetts Financial Services Co. MA raised its holdings in Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. Bank of New York Mellon Corp raised its holdings in Philip Morris International by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock worth $1,934,083,000 after purchasing an additional 2,785,987 shares during the period. Finally, National Bank of Canada FI raised its holdings in shares of Philip Morris International by 161.6% during the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after acquiring an additional 1,200,636 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. UBS Group boosted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Stifel Nicolaus upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Price Performance

PM opened at $151.05 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $159.51. The company’s 50-day moving average is $136.06 and its 200 day moving average is $129.07. The firm has a market capitalization of $234.87 billion, a P/E ratio of 33.49, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s payout ratio is currently 119.73%.

Insider Transactions at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares of the company’s stock, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.