ProVise Management Group LLC Sells 4,329 Shares of Philip Morris International Inc. (NYSE:PM)

ProVise Management Group LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 153,578 shares of the company’s stock after selling 4,329 shares during the quarter. Philip Morris International accounts for 1.6% of ProVise Management Group LLC’s holdings, making the stock its 18th largest position. ProVise Management Group LLC’s holdings in Philip Morris International were worth $18,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Range Financial Group LLC increased its position in Philip Morris International by 504.9% in the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after purchasing an additional 19,127 shares during the last quarter. Park Avenue Securities LLC increased its position in Philip Morris International by 18.9% in the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after purchasing an additional 16,035 shares during the last quarter. CWA Asset Management Group LLC increased its position in Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares during the last quarter. Ritholtz Wealth Management increased its position in Philip Morris International by 50.9% in the fourth quarter. Ritholtz Wealth Management now owns 53,884 shares of the company’s stock worth $6,485,000 after purchasing an additional 18,183 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in Philip Morris International by 182.4% in the third quarter. Brooklyn Investment Group now owns 6,815 shares of the company’s stock worth $827,000 after purchasing an additional 4,402 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $153.79 on Wednesday. The firm has a market capitalization of $239.12 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.51. The company has a 50-day moving average of $140.44 and a 200 day moving average of $130.64.

Philip Morris International (NYSE:PM) last posted its quarterly 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%. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders 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 dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s payout ratio is 119.73%.

Insider Activity

In other news, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the transaction, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This represents a 19.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,822 shares of company stock worth $19,655,585. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of several research reports. UBS Group boosted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. 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. StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley assumed coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.56.

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.