Philip Morris International Inc. (NYSE:PM) Shares Bought by CX Institutional

CX Institutional grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 12.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,520 shares of the company’s stock after purchasing an additional 958 shares during the period. CX Institutional’s holdings in Philip Morris International were worth $1,025,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC increased its position in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares in the last quarter. Concord Wealth Partners raised its stake in shares of Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Philip Morris International in the 3rd quarter worth about $54,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Philip Morris International in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Stock Up 1.5 %

NYSE:PM opened at $127.28 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The firm’s 50 day moving average is $125.30 and its two-hundred day moving average is $121.97. The company has a market cap of $197.89 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is currently 85.71%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.