Global Retirement Partners LLC boosted its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 40.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,177 shares of the company’s stock after buying an additional 19,309 shares during the period. Global Retirement Partners LLC’s holdings in Philip Morris International were worth $10,775,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tranquility Partners LLC grew its position in Philip Morris International by 2.4% in the 4th quarter. Tranquility Partners LLC now owns 2,489 shares of the company’s stock valued at $399,000 after buying an additional 59 shares in the last quarter. Stonebridge Financial Group LLC boosted its position in shares of Philip Morris International by 2.2% during the 4th quarter. Stonebridge Financial Group LLC now owns 2,763 shares of the company’s stock valued at $443,000 after purchasing an additional 60 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its position in shares of Philip Morris International by 1.8% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 3,372 shares of the company’s stock valued at $541,000 after purchasing an additional 61 shares in the last quarter. Townsend Asset Management Corp NC ADV boosted its position in shares of Philip Morris International by 2.4% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 2,662 shares of the company’s stock valued at $427,000 after purchasing an additional 62 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC boosted its position in shares of Philip Morris International by 0.7% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 9,249 shares of the company’s stock valued at $1,484,000 after purchasing an additional 63 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Down 1.7%
PM stock opened at $188.40 on Thursday. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $193.05. The firm has a market capitalization of $293.64 billion, a PE ratio of 26.50, a P/E/G ratio of 2.20 and a beta of 0.37. The firm has a 50-day moving average of $167.95 and a two-hundred day moving average of $166.60.
Philip Morris International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Thursday, March 19th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. Philip Morris International’s dividend payout ratio is currently 82.70%.
Wall Street Analysts Forecast Growth
PM has been the subject of several research reports. Stifel Nicolaus reduced their price objective on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, April 10th. UBS Group reduced 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 research report on Friday, April 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Philip Morris International from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.56.
Read Our Latest Stock Analysis on Philip Morris International
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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