Wetherby Asset Management Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,393 shares of the company’s stock after selling 869 shares during the period. Wetherby Asset Management Inc.’s holdings in Philip Morris International were worth $3,211,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PM. Flossbach Von Storch AG raised its stake in Philip Morris International by 89.4% in the fourth quarter. Flossbach Von Storch AG now owns 6,612,322 shares of the company’s stock worth $698,592,000 after buying an additional 3,121,247 shares in the last quarter. Vanguard Group Inc. raised its stake in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after buying an additional 2,972,929 shares in the last quarter. BlackRock Inc. raised its stake in Philip Morris International by 2.7% in the second quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after buying an additional 2,421,533 shares in the last quarter. FMR LLC raised its stake in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after buying an additional 2,330,864 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Philip Morris International by 57.8% in the second quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after buying an additional 2,139,002 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

How to Become a New Pot Stock Millionaire

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Bank of America decreased their target price on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $126.00 target price on shares of Philip Morris International in a research note on Thursday, February 8th. Citigroup decreased their target price on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $124.57.

Shares of Philip Morris International Inc. (PM) opened at $97.67 on Friday. The firm has a market cap of $151,828.23, a P/E ratio of 20.80, a P/E/G ratio of 1.84 and a beta of 0.85. The company has a current ratio of 1.35, a quick ratio of 0.80 and a debt-to-equity ratio of -3.06. Philip Morris International Inc. has a 1 year low of $96.66 and a 1 year high of $123.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. Philip Morris International’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. research analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Wednesday, March 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 110.59%.

In related news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the completion of the sale, the chief executive officer now owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the sale, the insider now directly owns 189,199 shares of the company’s stock, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.watchlistnews.com/wetherby-asset-management-inc-has-3-21-million-stake-in-philip-morris-international-inc-pm/1959955.html.

Philip Morris International Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.