Waterfront Wealth Inc. Boosts Position in Philip Morris International Inc. (NYSE:PM)

Waterfront Wealth Inc. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,824 shares of the company’s stock after buying an additional 271 shares during the quarter. Waterfront Wealth Inc.’s holdings in Philip Morris International were worth $1,112,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of Philip Morris International by 5.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 147,436 shares of the company’s stock worth $13,871,000 after purchasing an additional 7,591 shares during the period. KLCM Advisors Inc. grew its stake in shares of Philip Morris International by 25.9% during the 4th quarter. KLCM Advisors Inc. now owns 16,737 shares of the company’s stock worth $1,575,000 after purchasing an additional 3,445 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth approximately $72,000. Tyche Wealth Partners LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth approximately $1,885,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Philip Morris International by 2.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 290,123 shares of the company’s stock worth $27,295,000 after purchasing an additional 6,827 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PM. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $105.00 to $86.50 in a research note on Tuesday, January 23rd. 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. Finally, Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.40.

Insider Transactions at Philip Morris International

In related news, 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 transaction of $772,447.50. Following the sale, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction of $772,447.50. Following the sale, the insider now directly owns 94,629 shares in the company, valued at $8,860,113.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,250 shares of company stock valued at $1,411,128. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Trading Up 1.2 %

PM traded up $1.09 on Wednesday, hitting $90.59. 4,765,252 shares of the company’s stock were exchanged, compared to its average volume of 5,494,760. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $101.92. The firm has a 50-day moving average price of $91.07 and a 200-day moving average price of $92.02. The stock has a market cap of $140.83 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 1.85 and a beta of 0.61.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.08). The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.99 billion. Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 6.37 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.74%. Philip Morris International’s dividend payout ratio is presently 103.59%.

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.