Tocqueville Asset Management L.P. Sells 681 Shares of Philip Morris International Inc. (NYSE:PM)

Tocqueville Asset Management L.P. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,984 shares of the company’s stock after selling 681 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Philip Morris International were worth $731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kessler Investment Group LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at about $25,000. Boyd Watterson Asset Management LLC OH raised its holdings in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. Northwest Financial Advisors bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $38,000. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus boosted their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.22.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Down 0.3 %

Shares of Philip Morris International stock traded down $0.34 on Friday, reaching $107.12. The stock had a trading volume of 4,819,336 shares, compared to its average volume of 4,447,859. The company has a 50 day moving average price of $102.17 and a 200 day moving average price of $95.99. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $109.18. The stock has a market capitalization of $166.52 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.20 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.34 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio is presently 101.56%.

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.