Drive Wealth Management LLC Has $308,000 Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Drive Wealth Management LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 37.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,224 shares of the company’s stock after selling 1,932 shares during the quarter. Drive Wealth Management LLC’s holdings in Philip Morris International were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Philip Morris International by 3.1% in the second quarter. State Street Corp now owns 58,592,611 shares of the company’s stock worth $5,793,812,000 after purchasing an additional 1,745,868 shares in the last quarter. Morgan Stanley lifted its position in Philip Morris International by 1.0% during the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock worth $4,403,883,000 after buying an additional 411,358 shares in the last quarter. Wellington Management Group LLP lifted 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 buying an additional 3,121,732 shares in the last quarter. Invesco Ltd. increased its position in Philip Morris International by 33.5% in the 3rd quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after acquiring an additional 4,304,089 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Philip Morris International by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 16,050,540 shares of the company’s stock valued at $1,332,355,000 after acquiring an additional 260,832 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the sale, the insider now owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the sale, the insider now directly owns 102,918 shares in the company, valued at approximately $9,412,880.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the sale, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,250 shares of company stock worth $1,411,128. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of several research analyst reports. 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 note on Tuesday, February 13th. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. Finally, UBS Group lowered 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 note on Tuesday, January 23rd. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $105.40.

Check Out Our Latest Report on PM

Philip Morris International Trading Up 0.3 %

Shares of PM stock traded up $0.27 on Tuesday, hitting $91.71. The stock had a trading volume of 2,171,256 shares, compared to its average volume of 5,394,814. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $101.92. The company has a fifty day moving average price of $91.46 and a two-hundred day moving average price of $92.38. The firm has a market cap of $142.38 billion, a P/E ratio of 18.21, a PEG ratio of 2.07 and a beta of 0.61.

Philip Morris International (NYSE:PMGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 6.39 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Thursday, March 21st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Wednesday, March 20th. Philip Morris International’s payout ratio is presently 103.59%.

About Philip Morris International

(Free Report)

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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