Summit Wealth Partners LLC Trims Stake in Philip Morris International Inc. (NYSE:PM)

Summit Wealth Partners LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,693 shares of the company’s stock after selling 90 shares during the quarter. Summit Wealth Partners LLC’s holdings in Philip Morris International were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Valley Wealth Managers Inc. raised its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares during the period. Dunhill Financial LLC raised its holdings in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares during the period. Concord Wealth Partners raised its holdings in shares of Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the period. Asset Dedication LLC raised its holdings in shares of Philip Morris International by 55.5% in the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after buying an additional 147 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Philip Morris International in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.4 %

Shares of NYSE PM opened at $130.91 on Thursday. The stock has a market cap of $203.54 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The business has a 50-day moving average price of $125.18 and a 200 day moving average price of $123.41.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.13%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group boosted their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Barclays lowered their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $131.35.

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.