Garrison Point Advisors LLC Takes $313,000 Position in Philip Morris International Inc. (NYSE:PM)

Garrison Point Advisors LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,600 shares of the company's stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after acquiring an additional 1,167,810 shares during the last quarter. GQG Partners LLC increased its position in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares during the last quarter. Geode Capital Management LLC raised its holdings in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after buying an additional 3,185,258 shares during the period. Wellington Management Group LLP lifted its position in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after buying an additional 516,617 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock worth $1,934,083,000 after buying an additional 2,785,987 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 10,000 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the completion of the transaction, the insider now owns 106,244 shares in the company, valued at approximately $15,795,295.48. This represents a 8.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the transaction, the senior vice president now directly owns 30,308 shares of the company's stock, 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. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 in the last 90 days. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Barclays lifted their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $145.44.

Philip Morris International Trading Up 2.4 %

Shares of PM stock traded up $3.59 on Friday, reaching $154.76. 2,738,594 shares of the stock were exchanged, compared to its average volume of 5,556,447. The company has a market capitalization of $240.89 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 2.65 and a beta of 0.46. The business's 50 day moving average price is $151.56 and its 200 day moving average price is $134.41. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $163.08.

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

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.49%. Philip Morris International's payout ratio is 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.