Hemenway Trust Co LLC Lowers Stock Position in Philip Morris International Inc. (NYSE:PM)

Hemenway Trust Co LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,505 shares of the company’s stock after selling 478 shares during the period. Hemenway Trust Co LLC’s holdings in Philip Morris International were worth $504,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PM. Capital Research Global Investors grew its stake in shares of Philip Morris International by 9.1% during the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after buying an additional 4,869,272 shares during the period. Wellington Management Group LLP boosted its position in Philip Morris International by 12.6% during the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after purchasing an additional 3,121,732 shares during the period. Lone Pine Capital LLC purchased a new stake in Philip Morris International during the 4th quarter worth $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock worth $996,104,000 after purchasing an additional 2,123,311 shares during the period. Finally, Van ECK Associates Corp boosted its position in Philip Morris International by 5,045.1% during the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after purchasing an additional 2,081,472 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 sale, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $2.24 during trading on Thursday, reaching $105.00. The company had a trading volume of 3,739,370 shares, compared to its average volume of 5,392,619. The company has a market cap of $163.23 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.58. The firm’s fifty day moving average is $101.16 and its 200-day moving average is $95.45. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $105.00.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.95%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $104.22.

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.