Lars Dahlgren Sells Shares of Philip Morris International

On March 6th, 2023, insider Lars Dahlgren of Philip Morris International Inc. (NYSE:PM) sold 3,679 shares of the company’s stock. This sale was completed at an average price of $152.96 per share, resulting in a total transaction value of $562,739.84. After this transaction, Dahlgren retained ownership of 26,828 shares in Philip Morris, which are valued at approximately $4,103,610.88. It is noteworthy that this sale represents a 12.06% decrease in his overall stake in the company. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission, which can be accessed online.

Philip Morris International Price Performance

On the following trading day, Philip Morris experienced a decline of $2.50, bringing its stock price down to $151.05. The trading volume for PM stock reached 4,585,455 shares, compared to its average of 5,166,635 shares. Over the past fifty-two weeks, Philip Morris has hit a low of $87.82 and a high of $159.51. The company boasts a market capitalization of $234.86 billion, a price-to-earnings ratio of 33.48, and a PEG ratio of 2.65. Furthermore, Philip Morris International’s fifty-day simple moving average stands at $135.47, while its two-hundred-day moving average is at $128.78.

Company Financials and Earnings Announcement

Philip Morris International’s most recent earnings results were announced on February 6th. The company reported earnings per share (EPS) of $1.55 for the quarter, exceeding analysts' consensus estimate of $1.49 by $0.06. However, the company recorded a negative return on equity of 120.08% and a net margin of 7.89%. Analysts forecast that the company will achieve an average EPS of 7.14 for the current fiscal year.

Dividend Declaration

The company recently declared a quarterly dividend set to be paid on April 10th. Shareholders of record as of March 20th will receive a dividend of $1.35 per share, leading to an annualized dividend of $5.40, which gives a dividend yield of 3.58%. Currently, the payout ratio of Philip Morris is at 119.73%.

Institutional Investors' Activities

Recently, several hedge funds have adjusted their holdings in Philip Morris. For instance, Range Financial Group LLC significantly boosted its stake by 504.9% in the fourth quarter, owning 22,915 shares after acquiring an additional 19,127 shares. Similarly, Accredited Investors Inc. augmented its stake by 3,553.3% in the third quarter, resulting in ownership of 206,959 shares valued at $25,125,000. Other firms, including Park Avenue Securities LLC and CWA Asset Management Group LLC, also increased their positions, indicating strong institutional interest in the company. Overall, institutional investors and hedge funds hold about 78.63% of Philip Morris International’s stock.

Analyst Ratings and Price Targets

Various research analysts have recently issued evaluations of PM shares. Stifel Nicolaus raised its price target on Philip Morris from $145.00 to $160.00 while giving it a "buy" rating. Similarly, JPMorgan Chase & Co. increased its target price to $160.00 with an "overweight" rating. Conversely, UBS Group lowered its target from $105.00 to a "sell" rating with a price target of $120.00. There are currently eight analysts with a "buy" rating, one with a "hold" rating, and one analyst recommending a "sell," resulting in an overall average rating of "Moderate Buy" with a consensus target price of $144.56.

Company Overview

Philip Morris International Inc. focuses on providing a smoke-free future through an evolving product portfolio that includes not just traditional tobacco products but also non-tobacco offerings. Their product lineup comprises cigarettes and smoke-free items such as heat-not-burn products, vapor, oral nicotine products, and consumer accessories like lighters and matches.

PhilipMorris, Insider, Shares, Transaction, Earnings