Assetmark Inc. Acquires 72,201 Shares of Philip Morris International Inc. (NYSE:PM)

Assetmark Inc. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 41.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 245,798 shares of the company's stock after acquiring an additional 72,201 shares during the period. Assetmark Inc.'s holdings in Philip Morris International were worth $29,582,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Valley Wealth Managers Inc. increased its position in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth about $33,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth about $37,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 0.5 %

Shares of NYSE PM opened at $153.22 on Thursday. The firm has a market capitalization of $238.23 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $159.51. The firm's 50-day moving average is $134.82 and its 200-day moving average is $128.60.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International's payout ratio is 119.73%.

Insider Buying and Selling

In other Philip Morris International news, CEO Jacek Olczak sold 40,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the transaction, the chief executive officer now owns 547,426 shares of the company's stock, valued at approximately $81,495,308.62. The trade was a 6.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now directly owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,143 shares of company stock valued at $19,092,846 in the last 90 days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PM shares. StockNews.com cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price objective for the company. Barclays raised their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.56.

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.

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