Stonebridge Financial Group LLC MO bought a new position in Philip Morris International Inc. (NYSE:PM – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,935 shares of the company’s stock, valued at approximately $471,000.
Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Philip Morris International by 10.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock valued at $84,922,000 after purchasing an additional 51,399 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Philip Morris International by 10.2% during the third quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock valued at $49,251,000 after purchasing an additional 27,979 shares during the last quarter. Trajan Wealth LLC raised its holdings in shares of Philip Morris International by 31.2% during the third quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock valued at $21,458,000 after purchasing an additional 31,490 shares during the last quarter. Dynasty Wealth Management LLC raised its holdings in shares of Philip Morris International by 53.0% during the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock valued at $4,505,000 after purchasing an additional 9,622 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Philip Morris International by 23.6% during the third quarter. Stratos Wealth Partners LTD. now owns 43,926 shares of the company’s stock valued at $7,125,000 after purchasing an additional 8,392 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International Trading Up 2.7%
Shares of PM stock opened at $187.05 on Wednesday. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $191.30. The stock has a market cap of $291.53 billion, a P/E ratio of 26.31, a P/E/G ratio of 2.09 and a beta of 0.37. The company has a 50 day simple moving average of $166.21 and a two-hundred day simple moving average of $164.99.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Thursday, March 19th were paid a $1.47 dividend. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.1%. Philip Morris International’s dividend payout ratio is 82.70%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on PM shares. Citigroup boosted their price objective on shares of Philip Morris International from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. UBS Group decreased their price objective on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Stifel Nicolaus reduced their target price on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, April 10th. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and reduced their target price for the company from $220.00 to $180.00 in a report on Tuesday, January 20th. Finally, Barclays reaffirmed an “overweight” rating and set a $205.00 target price on shares of Philip Morris International in a report on Monday, February 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.56.
Read Our Latest Research Report on Philip Morris International
Insiders Place Their Bets
In other news, CFO Emmanuel Babeau sold 33,800 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $181.61, for a total value of $6,138,418.00. Following the completion of the sale, the chief financial officer directly owned 164,463 shares of the company’s stock, valued at $29,868,125.43. This represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacek Olczak sold 80,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the completion of the sale, the chief executive officer directly owned 632,344 shares of the company’s stock, valued at approximately $115,200,429.92. This trade represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.
Philip Morris International Profile
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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