Assetmark Inc. Purchases 23,911 Shares of Philip Morris International Inc. (NYSE:PM)

Assetmark Inc. increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,340 shares of the company’s stock after acquiring an additional 23,911 shares during the quarter. Assetmark Inc.’s holdings in Philip Morris International were worth $12,921,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Philip Morris International during the 3rd quarter worth approximately $27,000. Tennessee Valley Asset Management Partners acquired a new position in Philip Morris International during the 4th quarter valued at approximately $33,000. Northwest Financial Advisors acquired a new position in Philip Morris International during the 4th quarter valued at approximately $33,000. Wetzel Investment Advisors Inc. acquired a new position in Philip Morris International during the 4th quarter valued at approximately $39,000. Finally, McClarren Financial Advisors Inc. increased its stake in Philip Morris International by 158.0% during the 4th quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company’s stock valued at $43,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Massimo Andolina sold 8,250 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,250 shares of company stock worth $3,339,528. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus restated a “hold” rating on shares of Philip Morris International in a research note 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 objective on the stock in a report on Tuesday, February 13th. Finally, UBS Group downgraded 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.50.

Philip Morris International Stock Performance

NYSE PM traded up $0.76 during mid-day trading on Wednesday, reaching $100.99. 1,079,704 shares of the stock were exchanged, compared to its average volume of 5,557,075. The business’s 50 day moving average is $94.40 and its 200-day moving average is $93.07. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $101.46. The company has a market capitalization of $157.00 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.12 and a beta of 0.60.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The firm had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 earnings per share. Equities analysts predict that Philip Morris International Inc. will post 6.29 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.15%. 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 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.