Summit X LLC lessened its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 60.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,485 shares of the company's stock after selling 5,249 shares during the period. Summit X LLC's holdings in Philip Morris International were worth $419,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PM. Crossmark Global Holdings Inc. grew its holdings in shares of Philip Morris International by 0.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 16,002 shares of the company's stock valued at $1,943,000 after acquiring an additional 122 shares in the last quarter. Keystone Financial Services grew its holdings in shares of Philip Morris International by 8.7% in the 3rd quarter. Keystone Financial Services now owns 10,414 shares of the company's stock valued at $1,264,000 after acquiring an additional 837 shares in the last quarter. Entropy Technologies LP lifted its stake in Philip Morris International by 111.3% in the 3rd quarter. Entropy Technologies LP now owns 56,864 shares of the company's stock valued at $6,903,000 after purchasing an additional 29,958 shares during the last quarter. Harbour Investments Inc. lifted its stake in Philip Morris International by 3.4% in the 3rd quarter. Harbour Investments Inc. now owns 11,805 shares of the company's stock valued at $1,433,000 after purchasing an additional 387 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Philip Morris International in the 3rd quarter valued at about $749,000. Institutional investors own 78.63% of the company's stock.

Several brokerages have issued reports on PM. StockNews.com downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group lifted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Barclays lifted their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $144.56.

Read Our Latest Research Report on PM

Shares of NYSE PM traded down $0.87 during midday trading on Wednesday, reaching $151.23. 5,179,671 shares of the company were exchanged, compared to its average volume of 5,207,075. The stock's 50-day moving average price is $137.30 and its 200-day moving average price is $129.58. The stock has a market cap of $235.14 billion, a P/E ratio of 33.53, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $159.51.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.57%. Philip Morris International's dividend payout ratio is 119.73%.

In related news, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company's stock, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the sale, the senior vice president now directly owns 30,308 shares in the company, valued at approximately $4,584,994.24. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock valued at $19,655,585 over the last 90 days. 0.13% of the stock is owned by insiders.

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.

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