Forge Financial Services LLC Invests $229,000 in Philip Morris International Inc. (NYSE:PM)

Forge Financial Services LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,906 shares of the company's stock, valued at approximately $229,000. Philip Morris International accounts for 0.2% of Forge Financial Services LLC's investment portfolio, making the stock its 17th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC boosted its holdings in shares of Philip Morris International by 89.6% during the fourth quarter. Thoroughbred Financial Services LLC now owns 13,647 shares of the company's stock worth $1,642,000 after purchasing an additional 6,451 shares during the period. Resolute Advisors LLC acquired a new stake in shares of Philip Morris International during the 4th quarter valued at $242,000. Yoffe Investment Management LLC purchased a new position in shares of Philip Morris International during the 4th quarter valued at $590,000. Huber Capital Management LLC increased its stake in shares of Philip Morris International by 4.9% in the fourth quarter. Huber Capital Management LLC now owns 107,859 shares of the company's stock worth $12,981,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Uniting Wealth Partners LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth $722,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PM shares. Stifel Nicolaus boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, February 7th. StockNews.com downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. lifted 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 note on Tuesday, February 18th. Finally, UBS Group increased their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.56.

Remove Ads

Insider Activity

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now directly owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacek Olczak sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 $81,495,308.62. This trade represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. Insiders own 0.13% of the company's stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.31 during trading on Monday, reaching $150.93. The company's stock had a trading volume of 9,838,933 shares, compared to its average volume of 5,538,832. The business's fifty day moving average price is $149.12 and its 200-day moving average price is $133.35. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $163.08. The firm has a market cap of $234.93 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

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

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.58%. Philip Morris International's payout ratio is 119.73%.

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.