Focus Partners Wealth boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 188.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,592,622 shares of the company’s stock after buying an additional 1,039,815 shares during the quarter. Focus Partners Wealth owned approximately 0.10% of Philip Morris International worth $255,567,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC grew its position in Philip Morris International by 3.7% during the fourth quarter. Resurgent Financial Advisors LLC now owns 1,523 shares of the company’s stock valued at $244,000 after buying an additional 54 shares during the period. Douglass Winthrop Advisors LLC grew its position in Philip Morris International by 0.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 18,344 shares of the company’s stock valued at $2,942,000 after buying an additional 56 shares during the period. Outlook Wealth Advisors LLC grew its position in Philip Morris International by 4.6% during the fourth quarter. Outlook Wealth Advisors LLC now owns 1,320 shares of the company’s stock valued at $212,000 after buying an additional 58 shares during the period. Tranquility Partners LLC grew its position in Philip Morris International by 2.4% during the fourth quarter. Tranquility Partners LLC now owns 2,489 shares of the company’s stock valued at $399,000 after buying an additional 59 shares during the period. Finally, Stonebridge Financial Group LLC grew its position in Philip Morris International by 2.2% during the fourth quarter. Stonebridge Financial Group LLC now owns 2,763 shares of the company’s stock valued at $443,000 after buying an additional 60 shares during the period. 78.63% of the stock is currently owned by institutional investors.
Philip Morris International Price Performance
Shares of PM stock opened at $184.41 on Friday. The company has a market capitalization of $287.41 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 2.13 and a beta of 0.38. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $193.05. The company’s fifty day moving average price is $172.61 and its 200-day moving average price is $169.80.
Philip Morris International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 25th. Philip Morris International’s payout ratio is 82.70%.
Analyst Ratings Changes
Several analysts recently issued reports on PM shares. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Barclays restated an “overweight” rating and set a $205.00 target price on shares of Philip Morris International in a research report on Monday, February 23rd. Stifel Nicolaus cut 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 research report on Friday, April 10th. Needham & Company LLC restated a “buy” rating and set a $200.00 target price on shares of Philip Morris International in a research report on Thursday, April 23rd. Finally, UBS Group lowered their price target on shares of Philip Morris International from $181.50 to $168.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $192.88.
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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