Philip Morris International Inc. (NYSE:PM) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 18,435 shares of the company’s stock after selling 392 shares during the period. Sumitomo Life Insurance Co.’s holdings in Philip Morris International were worth $2,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. boosted 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 purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC raised its position 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 worth $29,000 after buying an additional 161 shares during the period. Concord Wealth Partners boosted its holdings in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after acquiring an additional 298 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Philip Morris International during the third quarter valued at about $54,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Philip Morris International during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $129.06 on Wednesday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The stock’s 50-day simple moving average is $125.27 and its 200-day simple moving average is $122.42. The firm has a market cap of $200.66 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.01 and a beta of 0.54.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on PM. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective 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 cut their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.35.

About Philip Morris International

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.