Independent Advisor Alliance Has $11.82 Million Stake in Philip Morris International Inc. $PM

Independent Advisor Alliance reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,895 shares of the company’s stock after selling 4,251 shares during the quarter. Independent Advisor Alliance’s holdings in Philip Morris International were worth $11,823,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Philip Morris International in the second quarter valued at about $25,000. Traub Capital Management LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at about $25,000. Marquette Asset Management LLC raised its stake in shares of Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. Briaud Financial Planning Inc lifted its position in shares of Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. Finally, Estabrook Capital Management bought a new stake in shares of Philip Morris International during the second quarter valued at approximately $30,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PM. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Wall Street Zen lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Barclays lowered their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Trading Up 0.9%

Philip Morris International stock opened at $179.42 on Friday. The firm has a market capitalization of $279.29 billion, a P/E ratio of 32.50, a PEG ratio of 1.92 and a beta of 0.40. The business has a 50-day moving average of $161.53 and a 200-day moving average of $161.42. Philip Morris International Inc. has a 1 year low of $128.25 and a 1 year high of $186.69.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, December 26th. Philip Morris International’s dividend payout ratio is presently 106.52%.

Philip Morris International Company 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.