Adams Diversified Equity Fund Inc. Cuts Holdings in Philip Morris International Inc. (NYSE:PM)

Adams Diversified Equity Fund Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 2.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 207,935 shares of the company’s stock after selling 5,400 shares during the period. Philip Morris International accounts for about 0.9% of Adams Diversified Equity Fund Inc.’s portfolio, making the stock its 25th largest position. Adams Diversified Equity Fund Inc.’s holdings in Philip Morris International were worth $25,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. State Street Corp increased its stake in shares of Philip Morris International by 0.4% during the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after purchasing an additional 224,840 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after purchasing an additional 621,034 shares in the last quarter. FMR LLC increased its stake in shares of Philip Morris International by 40.9% during 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 in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 21.0% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Philip Morris International by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company’s stock worth $1,615,449,000 after purchasing an additional 190,201 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In other news, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the sale, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 106,244 shares in the company, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 131,822 shares of company stock valued at $19,655,585. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PM shares. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted 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 report on Tuesday, February 18th. Finally, Barclays boosted their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Price Performance

NYSE:PM opened at $152.12 on Friday. The firm has a market capitalization of $236.53 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.65 and a beta of 0.53. The company’s 50-day moving average is $141.69 and its two-hundred day moving average is $130.95. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.51.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share 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%. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

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.