Riverview Trust Co purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,402 shares of the company’s stock, valued at approximately $94,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Essex Investment Management Co. LLC purchased a new position in Philip Morris International in the fourth quarter worth about $27,000. Transamerica Financial Advisors Inc. raised its holdings in Philip Morris International by 552.8% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after buying an additional 398 shares during the last quarter. Clean Yield Group purchased a new position in Philip Morris International in the fourth quarter worth about $37,000. Litman Gregory Asset Management LLC purchased a new position in Philip Morris International in the fourth quarter worth about $40,000. Finally, Vigilant Capital Management LLC raised its holdings in Philip Morris International by 195.6% in the fourth quarter. Vigilant Capital Management LLC now owns 665 shares of the company’s stock worth $44,000 after buying an additional 440 shares during the last quarter. 74.36% of the stock is owned by institutional investors.
PM opened at $91.91 on Friday. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $103.55. The company has a market cap of $141.06 billion, a PE ratio of 18.02, a P/E/G ratio of 1.89 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Tuesday, March 26th will be issued a dividend of $1.14 per share. The ex-dividend date is Monday, March 25th. This represents a $4.56 annualized dividend and a dividend yield of 4.96%. Philip Morris International’s payout ratio is 89.41%.
Several brokerages have issued reports on PM. Piper Jaffray Companies set a $110.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a report on Monday, December 3rd. Morgan Stanley decreased their target price on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, January 8th. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 target price on shares of Philip Morris International in a report on Sunday, February 10th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $91.86.
In other news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the transaction, the chief executive officer now directly owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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