DAVENPORT & Co LLC Has $151.67 Million Stake in Philip Morris International Inc. (NYSE:PM)

DAVENPORT & Co LLC lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,260,854 shares of the company's stock after selling 5,039 shares during the quarter. Philip Morris International accounts for approximately 0.9% of DAVENPORT & Co LLC's holdings, making the stock its 24th largest holding. DAVENPORT & Co LLC owned 0.08% of Philip Morris International worth $151,674,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PM. White Lighthouse Investment Management Inc. increased its holdings in Philip Morris International by 71.4% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company's stock worth $1,457,000 after purchasing an additional 4,999 shares in the last quarter. Range Financial Group LLC grew its holdings in shares of Philip Morris International by 504.9% in the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company's stock valued at $2,758,000 after acquiring an additional 19,127 shares in the last quarter. Accredited Investors Inc. grew its holdings in shares of Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock valued at $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company's stock valued at $12,134,000 after acquiring an additional 16,035 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in shares of Philip Morris International by 37.5% in the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company's stock valued at $2,912,000 after acquiring an additional 6,605 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of PM stock traded down $0.16 during trading on Friday, hitting $130.16. The company had a trading volume of 5,331,134 shares, compared to its average volume of 4,484,783. The firm has a market capitalization of $202.37 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The stock's 50-day moving average price is $125.23 and its 200 day moving average price is $122.98. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 4.15%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International's payout ratio is presently 85.71%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays decreased their price objective on Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Citigroup boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.