Horizon Investment Services LLC Reduces Position in Philip Morris International Inc. (NYSE:PM)

Horizon Investment Services LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,949 shares of the company’s stock after selling 378 shares during the quarter. Horizon Investment Services LLC’s holdings in Philip Morris International were worth $362,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PM. Capital Research Global Investors boosted its position 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 acquiring an additional 4,869,272 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Philip Morris International by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,396,354 shares of the company’s stock valued at $1,226,746,000 after acquiring an additional 125,919 shares during the last quarter. Northern Trust Corp boosted its position in shares of Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after acquiring an additional 77,820 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of 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 valued at $996,104,000 after acquiring an additional 2,123,311 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Philip Morris International by 7.0% during the 4th quarter. Boston Partners now owns 5,288,380 shares of the company’s stock valued at $497,136,000 after acquiring an additional 347,458 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus upped their target price 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, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.22.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the transaction, the insider now owns 178,447 shares in the company, valued at $17,205,859.74. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Price Performance

Shares of PM stock traded up $0.95 during trading hours on Friday, hitting $105.95. The stock had a trading volume of 3,541,781 shares, compared to its average volume of 4,513,701. The firm has a market capitalization of $164.71 billion, a PE ratio of 20.69, a PEG ratio of 2.18 and a beta of 0.58. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $106.63. The stock’s 50 day moving average is $101.33 and its 200 day moving average is $95.56.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

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.