Drive Wealth Management LLC Buys 2,221 Shares of Philip Morris International Inc. (NYSE:PM)

Drive Wealth Management LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 126.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,976 shares of the company's stock after acquiring an additional 2,221 shares during the quarter. Drive Wealth Management LLC's holdings in Philip Morris International were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Philip Morris International Stock Up 2.3 %

Shares of NYSE PM traded up $2.94 during trading on Monday, reaching $130.22. The company had a trading volume of 7,643,914 shares, compared to its average volume of 5,045,156. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The stock has a market cap of $202.46 billion, a PE ratio of 20.67, a P/E/G ratio of 2.01 and a beta of 0.54. The business's 50-day moving average is $125.30 and its 200 day moving average is $122.25.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Thursday, December 26th. Philip Morris International's payout ratio is presently 85.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PM shares. Citigroup upped their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. UBS Group boosted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. 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 objective for the company. Barclays dropped their price target 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, Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.