Philip Morris International Inc. (NYSE:PM) Stake Lessened by SouthState Corp

SouthState Corp decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,360 shares of the company’s stock after selling 534 shares during the period. SouthState Corp’s holdings in Philip Morris International were worth $1,821,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PM. Headlands Technologies LLC acquired a new position in shares of Philip Morris International in the 3rd quarter worth approximately $27,000. Tennessee Valley Asset Management Partners bought a new position in shares of Philip Morris International in the fourth quarter valued at $33,000. Legacy Financial Group LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at $37,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Philip Morris International during the 4th quarter worth $39,000. Finally, McClarren Financial Advisors Inc. grew its holdings in shares of Philip Morris International by 158.0% in the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock worth $43,000 after acquiring an additional 278 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock traded up $0.09 during trading hours on Friday, hitting $97.40. The company had a trading volume of 4,890,291 shares, compared to its average volume of 5,759,192. The firm’s fifty day moving average is $92.36 and its 200-day moving average is $92.28. The firm has a market capitalization of $151.41 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $100.70.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period last year, the company earned $1.38 earnings per share. Philip Morris International’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 6.3 earnings per share 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 of this dividend was Wednesday, March 20th. This represents a $5.20 dividend on an annualized basis and a yield of 5.34%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and reduced their target price for the company 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 objective for the company in a research note on Tuesday, February 13th. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Argus restated a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $105.50.

Insider Activity at Philip Morris International

In other news, insider Werner Barth sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total transaction of $457,300.00. Following the transaction, the insider now owns 102,918 shares in the company, valued at approximately $9,412,880.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the completion of the sale, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were 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 approximately $9,412,880.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,250 shares of company stock valued at $3,339,528. 0.13% of the stock is currently owned by corporate insiders.

Philip Morris International 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.