Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,641 shares of the company's stock after purchasing an additional 3,004 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Philip Morris International were worth $1,281,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. boosted its holdings 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 valued at $27,000 after buying an additional 183 shares in the last quarter. Dunhill Financial LLC boosted its stake in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Concord Wealth Partners grew 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 worth $38,000 after purchasing an additional 298 shares during the period. Darwin Wealth Management LLC bought a new position in shares of Philip Morris International during the third quarter valued at approximately $54,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $54,000. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PM shares. Barclays reduced their price objective on Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Morgan Stanley began coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus restated a "buy" rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.35.

Philip Morris International Stock Down 0.1 %

PM traded down $0.16 during mid-day trading on Friday, reaching $130.16. 5,331,134 shares of the company traded hands, compared to its average volume of 4,484,783. The stock has a market capitalization of $202.37 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company's fifty day moving average price is $125.23 and its 200-day moving average price is $122.86.

Philip Morris International Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.15%. Philip Morris International's payout ratio is 85.71%.

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.