Franklin Resources Inc. Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Franklin Resources Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,249,131 shares of the company's stock after acquiring an additional 1,248,561 shares during the period. Franklin Resources Inc. owned about 0.92% of Philip Morris International worth $1,714,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC increased its stake in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after buying an additional 72 shares during the period. Dunhill Financial LLC raised its stake in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock valued at $29,000 after acquiring an additional 161 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International during the fourth quarter valued at $33,000. Knuff & Co LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth $36,000. Finally, Sierra Ocean LLC bought a new stake in shares of Philip Morris International in the fourth quarter worth $37,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PM. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They set an "overweight" rating and a $140.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. UBS Group increased their price objective 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. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $144.56.

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Insider Buying and Selling

In other news, insider Lars Dahlgren sold 3,679 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total value of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by company insiders.

Philip Morris International Trading Up 3.9 %

Philip Morris International stock traded up $6.04 during midday trading on Thursday, reaching $162.21. The stock had a trading volume of 10,561,549 shares, compared to its average volume of 5,490,911. The company has a fifty day moving average price of $147.92 and a two-hundred day moving average price of $132.82. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $163.04. The company has a market capitalization of $252.21 billion, a P/E ratio of 35.97, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating 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%. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid 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 3.33%. Philip Morris International's payout ratio is currently 119.73%.

Philip Morris International 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.