TrinityPoint Wealth LLC Acquires New Holdings in Philip Morris International Inc. (PM)

TrinityPoint Wealth LLC acquired a new stake in Philip Morris International Inc. (NYSE:PM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 12,295 shares of the company’s stock, valued at approximately $821,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at $6,039,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at $397,000. Jennison Associates LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at $17,445,000. Eagle Asset Management Inc. boosted its holdings in shares of Philip Morris International by 5.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 54,391 shares of the company’s stock valued at $4,435,000 after acquiring an additional 3,037 shares in the last quarter. Finally, AXA boosted its holdings in shares of Philip Morris International by 1.8% during the 3rd quarter. AXA now owns 104,780 shares of the company’s stock valued at $8,544,000 after acquiring an additional 1,833 shares in the last quarter. Institutional investors and hedge funds own 74.36% of the company’s stock.

Several brokerages have commented on PM. Piper Jaffray Companies set a $110.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Monday, December 3rd. UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $86.00 to $101.00 in a report on Wednesday, February 27th. Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, February 14th. Jefferies Financial Group reissued a “hold” rating and set a $80.00 price objective on shares of Philip Morris International in a report on Sunday, February 10th. Finally, ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Philip Morris International has an average rating of “Hold” and an average price target of $91.86.

In related news, CEO Andre Calantzopoulos sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total value of $4,238,000.00. Following the transaction, the chief executive officer now owns 844,901 shares in the company, valued at $71,613,808.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Philip Morris International stock opened at $90.31 on Wednesday. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $103.55. The company has a market capitalization of $139.97 billion, a P/E ratio of 17.71, a PEG ratio of 1.89 and a beta of 0.95.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 7th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.46 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. Philip Morris International’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, equities analysts expect that Philip Morris International Inc. will post 5.36 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Tuesday, March 26th will be paid a $1.14 dividend. The ex-dividend date of this dividend is Monday, March 25th. This represents a $4.56 annualized dividend and a yield of 5.05%. Philip Morris International’s payout ratio is 89.41%.

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Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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