Factory Mutual Insurance Co. Sells 63,200 Shares of Philip Morris International Inc. (NYSE:PM)

Factory Mutual Insurance Co. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 420,806 shares of the company's stock after selling 63,200 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Philip Morris International were worth $50,644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PM. Centaurus Financial Inc. increased its holdings in shares of Philip Morris International by 35.6% during the second quarter. Centaurus Financial Inc. now owns 13,333 shares of the company's stock worth $1,351,000 after buying an additional 3,500 shares in the last quarter. Abacus Planning Group Inc. bought a new stake in Philip Morris International during the 3rd quarter worth $219,000. Massmutual Trust Co. FSB ADV increased its holdings in Philip Morris International by 0.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 39,337 shares of the company's stock worth $4,776,000 after purchasing an additional 176 shares in the last quarter. Czech National Bank raised its position in Philip Morris International by 6.9% in the third quarter. Czech National Bank now owns 316,729 shares of the company's stock valued at $38,451,000 after purchasing an additional 20,494 shares during the last quarter. Finally, Farmers Trust Co. boosted its stake in shares of Philip Morris International by 1.6% during the third quarter. Farmers Trust Co. now owns 43,577 shares of the company's stock valued at $5,290,000 after purchasing an additional 687 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PM. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. Barclays lowered their target price 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. Stifel Nicolaus reiterated a "buy" rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.35.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $0.16 during midday trading on Friday, hitting $130.16. 5,331,134 shares of the stock traded hands, compared to its average volume of 4,484,783. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The business has a 50 day moving average price of $125.23 and a two-hundred day moving average price of $122.98. The company has a market cap of $202.37 billion, a PE ratio of 20.66, a P/E/G ratio of 2.29 and a beta of 0.54.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. The ex-dividend date 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%.

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.