Golden State Wealth Management LLC Invests $332,000 in Philip Morris International Inc. (NYSE:PM)

Golden State Wealth Management LLC bought 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 institutional investor bought 2,757 shares of the company's stock, valued at approximately $332,000.

Several other hedge funds have also added to or reduced their stakes in the business. White Lighthouse Investment Management Inc. grew its stake in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company's stock worth $1,457,000 after purchasing an additional 4,999 shares during the period. Range Financial Group LLC boosted its position in shares of Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company's stock valued at $2,758,000 after buying an additional 19,127 shares during the last quarter. Accredited Investors Inc. grew its stake in shares of Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock worth $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Philip Morris International by 18.9% during the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company's stock valued at $12,134,000 after acquiring an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of Philip Morris International by 37.5% in the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company's stock worth $2,912,000 after buying an additional 6,605 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 0.6 %

Shares of NYSE PM traded down $0.92 during trading on Friday, reaching $144.40. The company had a trading volume of 7,207,465 shares, compared to its average volume of 5,552,923. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $146.78. The business's 50-day moving average is $125.66 and its 200 day moving average is $123.97. The stock has a market cap of $224.51 billion, a PE ratio of 32.02, a P/E/G ratio of 2.55 and a beta of 0.55.

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 for the quarter, beating analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. On average, analysts anticipate that Philip Morris International Inc. will post 7.11 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid 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 3.74%. Philip Morris International's dividend payout ratio is 119.73%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PM. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price objective on the stock. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a report on Friday. Stifel Nicolaus increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday. Finally, Barclays dropped their target price on Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.35.

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.