World Investment Advisors boosted its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 42.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 115,267 shares of the company’s stock after acquiring an additional 34,392 shares during the quarter. World Investment Advisors’ holdings in Philip Morris International were worth $18,489,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PM. Corient Private Wealth LLC boosted its stake in Philip Morris International by 1.2% during the 2nd quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock valued at $89,354,000 after purchasing an additional 5,681 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Philip Morris International by 10.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock worth $84,922,000 after purchasing an additional 51,399 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Philip Morris International by 10.2% in the third quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock worth $49,251,000 after purchasing an additional 27,979 shares during the last quarter. Trajan Wealth LLC lifted its holdings in shares of Philip Morris International by 31.2% during the third quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock valued at $21,458,000 after purchasing an additional 31,490 shares in the last quarter. Finally, Dynasty Wealth Management LLC lifted its holdings in shares of Philip Morris International by 53.0% during the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock valued at $4,505,000 after purchasing an additional 9,622 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
Shares of PM opened at $157.71 on Friday. The firm has a market capitalization of $245.79 billion, a P/E ratio of 21.69, a PEG ratio of 1.80 and a beta of 0.43. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $191.30. The business has a fifty day moving average of $175.61 and a 200 day moving average of $164.07.
Philip Morris International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 19th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s dividend payout ratio (DPR) is presently 80.88%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Citigroup lifted their price objective on Philip Morris International from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Needham & Company LLC upped their target price on shares of Philip Morris International from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and reduced their price target for the stock from $220.00 to $180.00 in a research note on Tuesday, January 20th. Finally, Stifel Nicolaus set a $200.00 price objective on shares of Philip Morris International in a report on Monday, February 9th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $196.83.
Read Our Latest Analysis on PM
Insider Buying and Selling
In related news, CFO Emmanuel Babeau sold 33,800 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $181.61, for a total transaction of $6,138,418.00. Following the completion of the sale, the chief financial officer directly owned 164,463 shares in the company, valued at approximately $29,868,125.43. The trade was a 17.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jacek Olczak sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the sale, the chief executive officer directly owned 632,344 shares of the company’s stock, valued at approximately $115,200,429.92. This represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.13% of the company’s stock.
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.
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