Orrstown Financial Services Inc. Purchases 394 Shares of Philip Morris International Inc. (NYSE:PM)

Orrstown Financial Services Inc. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,852 shares of the company’s stock after acquiring an additional 394 shares during the period. Orrstown Financial Services Inc.’s holdings in Philip Morris International were worth $343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. State Street Corp boosted its position in Philip Morris International by 0.4% in the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after buying an additional 224,840 shares during the last quarter. Geode Capital Management LLC increased its position in Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC raised its holdings in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. lifted its position in Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after purchasing an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PM. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Trading Up 0.9 %

PM stock traded up $1.11 during trading hours on Wednesday, hitting $130.07. 193,059 shares of the stock were exchanged, compared to its average volume of 4,771,528. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm has a market capitalization of $202.24 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.01 and a beta of 0.54. The company has a 50-day simple moving average of $125.26 and a two-hundred day simple moving average of $122.59.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

Philip Morris International 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.