New York Life Investment Management LLC Has $19.67 Million Stake in Philip Morris International Inc. (NYSE:PM)

New York Life Investment Management LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 209,080 shares of the company’s stock after selling 1,587 shares during the quarter. New York Life Investment Management LLC’s holdings in Philip Morris International were worth $19,670,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PM. Essex Financial Services Inc. lifted its holdings in Philip Morris International by 1.4% during the fourth quarter. Essex Financial Services Inc. now owns 20,513 shares of the company’s stock valued at $1,930,000 after purchasing an additional 282 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Philip Morris International by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,106,341 shares of the company’s stock valued at $198,165,000 after purchasing an additional 200,684 shares in the last quarter. Phraction Management LLC raised its stake in shares of Philip Morris International by 0.7% during the 4th quarter. Phraction Management LLC now owns 79,504 shares of the company’s stock valued at $7,480,000 after purchasing an additional 570 shares during the period. Hexagon Capital Partners LLC boosted its stake in Philip Morris International by 15.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 11,511 shares of the company’s stock worth $1,083,000 after purchasing an additional 1,514 shares during the period. Finally, Parthenon LLC grew its holdings in Philip Morris International by 0.6% during the 4th quarter. Parthenon LLC now owns 33,049 shares of the company’s stock valued at $3,109,000 after buying an additional 204 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Up 1.2 %

PM traded up $1.11 during trading on Wednesday, hitting $96.05. 6,462,333 shares of the company traded hands, compared to its average volume of 5,762,755. The company has a market cap of $149.32 billion, a PE ratio of 18.70, a P/E/G ratio of 2.02 and a beta of 0.61. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $100.70. The stock’s 50-day simple moving average is $92.12 and its two-hundred day simple moving average is $92.22.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a net margin of 9.83% and a negative return on equity of 113.26%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 EPS. Equities analysts expect that Philip Morris International Inc. will post 6.3 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a $1.30 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $5.20 annualized dividend and a dividend yield of 5.41%. Philip Morris International’s payout ratio is currently 101.56%.

Analyst Ratings Changes

A number of analysts recently weighed in on PM shares. UBS Group lowered shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their target price for the stock from $105.00 to $86.50 in a report 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 for the company in a research report on Tuesday, February 13th. Argus reiterated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, 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 research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.50.

Insiders Place Their Bets

In other news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total value of $181,380.00. Following the transaction, the vice president now directly owns 9,726 shares in the company, valued at approximately $882,050.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $91.46, for a total value of $457,300.00. Following the transaction, the insider now owns 102,918 shares in the company, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders have sold a total of 35,250 shares of company stock worth $3,339,528 in the last three months. Corporate insiders own 0.14% of the company’s stock.

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.