Sound Income Strategies LLC Has $287,000 Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Sound Income Strategies LLC boosted its position in Philip Morris International Inc. (NYSE:PMFree Report) by 66.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,049 shares of the company’s stock after purchasing an additional 1,221 shares during the period. Sound Income Strategies LLC’s holdings in Philip Morris International were worth $287,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PM. Headlands Technologies LLC bought a new position in shares of Philip Morris International during the third quarter worth approximately $27,000. PCA Investment Advisory Services Inc. bought a new position in Philip Morris International in the second quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. bought a new position in Philip Morris International in the third quarter valued at approximately $36,000. Legacy Financial Group LLC bought a new position in Philip Morris International in the third quarter valued at approximately $37,000. Finally, VitalStone Financial LLC increased its stake in Philip Morris International by 950.0% in the second quarter. VitalStone Financial LLC now owns 420 shares of the company’s stock valued at $41,000 after acquiring an additional 380 shares during the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PM. UBS Group cut shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their price objective for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Societe Generale upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a research report on Tuesday, February 13th. Finally, Argus restated a “hold” rating on shares of Philip Morris International in a research 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.40.

View Our Latest Research Report on PM

Insider Buying and Selling

In related 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 transaction, the vice president now directly owns 9,726 shares of the company’s stock, valued at approximately $882,050.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Werner Barth sold 5,000 shares of Philip Morris International stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at approximately $882,050.94. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Philip Morris International Price Performance

NYSE:PM opened at $94.27 on Monday. The firm has a 50-day moving average of $91.91 and a 200-day moving average of $92.57. The company has a market cap of $146.35 billion, a PE ratio of 18.78, a PEG ratio of 2.15 and a beta of 0.61. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $101.92.

Philip Morris International (NYSE:PMGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.99 billion. During the same period in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts expect that Philip Morris International Inc. will post 6.39 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Wednesday, March 20th. Philip Morris International’s dividend payout ratio is currently 103.59%.

About Philip Morris International

(Free Report)

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.

See Also

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

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