Philip Morris International Inc. (NYSE:PM) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,677 shares of the company’s stock after selling 162 shares during the quarter. Manchester Capital Management LLC’s holdings in Philip Morris International were worth $429,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PM. Bank of Nova Scotia raised its holdings in shares of Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares during the period. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Philip Morris International by 2.3% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock worth $56,772,000 after purchasing an additional 13,416 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth approximately $5,634,000. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $1,251,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $857,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’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 transaction, the insider now owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $1.17 on Friday, hitting $106.17. 851,021 shares of the company were exchanged, compared to its average volume of 5,358,867. The company’s 50 day moving average price is $101.16 and its two-hundred day moving average price is $95.45. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $106.25. The firm has a market capitalization of $165.05 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.11 and a beta of 0.58.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. The firm 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 business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. Research analysts predict that Philip Morris International Inc. will post 6.32 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is 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.