Franklin Resources Inc. raised its position in Philip Morris International Inc. (NYSE:PM) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,872,213 shares of the company’s stock after buying an additional 96,003 shares during the quarter. Franklin Resources Inc. owned 0.44% of Philip Morris International worth $726,049,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 6,572.3% during the 3rd quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after purchasing an additional 100,228 shares in the last quarter. Front Row Advisors LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth $118,000. Cerebellum GP LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth $128,000. Independence Bank of Kentucky acquired a new stake in shares of Philip Morris International during the 4th quarter worth $129,000. Finally, Financial Engines Advisors L.L.C. grew its holdings in shares of Philip Morris International by 399.2% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock worth $134,000 after purchasing an additional 962 shares in the last quarter. 72.22% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PM opened at $101.02 on Friday. The stock has a market capitalization of $156,751.97, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86. The company has a current ratio of 1.35, a quick ratio of 0.80 and a debt-to-equity ratio of -3.06. Philip Morris International Inc. has a twelve month low of $95.51 and a twelve month high of $123.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, March 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 86.82%.
PM has been the topic of several analyst reports. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, February 28th. They noted that the move was a valuation call. Morgan Stanley increased their target price on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Bank of America reduced their target price on Philip Morris International from $115.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Piper Jaffray reissued a “buy” rating and set a $126.00 target price on shares of Philip Morris International in a report on Thursday, February 8th. Finally, Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Philip Morris International has an average rating of “Buy” and an average price target of $123.77.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the sale, the chief executive officer now directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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