Amalgamated Bank Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Amalgamated Bank cut its stake in Philip Morris International Inc. (NYSE:PM) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,499 shares of the company’s stock after selling 18,022 shares during the period. Amalgamated Bank’s holdings in Philip Morris International were worth $35,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Philip Morris International by 12.6% in the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after acquiring an additional 3,121,732 shares during the last quarter. Invesco Ltd. boosted its stake in Philip Morris International by 33.5% during the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock worth $1,587,542,000 after buying an additional 4,304,089 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Philip Morris International by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,270,435 shares of the company’s stock valued at $1,197,730,000 after acquiring an additional 87,946 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Philip Morris International by 3.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,315,843 shares of the company’s stock valued at $769,881,000 after purchasing an additional 299,005 shares during the period. Finally, Royal Bank of Canada lifted its stake in Philip Morris International by 0.3% during the third quarter. Royal Bank of Canada now owns 6,806,099 shares of the company’s stock worth $630,108,000 after purchasing an additional 20,092 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the subject of a number of research reports. Argus reiterated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. 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 report on Tuesday, February 13th. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and dropped their price objective for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.50.

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total value of $181,380.00. Following the sale, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the business’s 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 completion of the transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at $882,050.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The disclosure for this sale can be found here. Insiders sold 35,250 shares of company stock worth $3,339,528 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International Stock Performance

NYSE PM traded up $1.26 on Thursday, reaching $97.31. The stock had a trading volume of 5,589,344 shares, compared to its average volume of 5,760,716. The business’s 50-day moving average price is $92.23 and its 200 day moving average price is $92.25. The stock has a market cap of $151.27 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $100.70.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to analyst estimates of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.3 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Wednesday, March 20th. 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.