Greenleaf Trust lifted its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,417 shares of the company’s stock after purchasing an additional 3,319 shares during the period. Greenleaf Trust’s holdings in Philip Morris International were worth $5,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in PM. Marquette Asset Management LLC lifted its stake in shares of Philip Morris International by 1,677.8% in the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after purchasing an additional 151 shares during the period. Dogwood Wealth Management LLC lifted its stake in shares of Philip Morris International by 96.5% in the 3rd quarter. Dogwood Wealth Management LLC now owns 167 shares of the company’s stock valued at $27,000 after purchasing an additional 82 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Philip Morris International in the 3rd quarter valued at $32,000. FNY Investment Advisers LLC acquired a new position in shares of Philip Morris International in the 3rd quarter valued at $33,000. Finally, McIlrath & Eck LLC purchased a new stake in Philip Morris International in the 2nd quarter worth $36,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Stock Down 1.8%
Shares of NYSE PM opened at $157.38 on Wednesday. The firm has a 50-day simple moving average of $174.86 and a 200-day simple moving average of $164.01. The stock has a market capitalization of $245.29 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.80 and a beta of 0.43. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $191.30.
Philip Morris International Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 19th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, March 19th. Philip Morris International’s dividend payout ratio is 80.88%.
Insider Transactions at Philip Morris International
In other news, CEO Jacek Olczak sold 80,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $182.18, for a total value of $14,574,400.00. Following the completion of the sale, the chief executive officer directly owned 632,344 shares in the company, valued at $115,200,429.92. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Emmanuel Babeau sold 33,800 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $181.61, for a total transaction of $6,138,418.00. Following the completion of the sale, the chief financial officer owned 164,463 shares of the company’s stock, valued at $29,868,125.43. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
PM has been the subject of several recent analyst reports. Stifel Nicolaus set a $200.00 price target on shares of Philip Morris International in a report on Monday, February 9th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and cut their price target for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. UBS Group reissued a “neutral” rating and issued a $181.50 price target on shares of Philip Morris International in a report on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $205.00 price target on shares of Philip Morris International in a report on Monday, February 9th. Finally, Needham & Company LLC boosted their price target on shares of Philip Morris International from $190.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $196.83.
View Our Latest Stock Analysis on PM
About Philip Morris International
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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