Philip Morris International Insiders Sold $29M of Shares: A Cause for Concern?

Philip Morris International insiders sold $29m of shares over the past year, suggesting some hesitation. The largest sale was by Group CEO & Director Jacek Olczak, who sold $15m worth of shares at $182 each, above the current price of $164. Insiders did not buy any company stock in the last year, and the last three months saw significant insider selling, totaling $29m. This may indicate that some insiders think the shares are not cheap.