Grant Private Wealth Management Inc Takes $225,000 Position in Philip Morris International Inc. (NYSE:PM)

Grant Private Wealth Management Inc bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,866 shares of the company's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Meridian Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after buying an additional 70 shares in the last quarter. NewSquare Capital LLC raised its stake in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Philip Morris International by 2.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after purchasing an additional 73 shares in the last quarter. Balboa Wealth Partners boosted its holdings in Philip Morris International by 2.0% in the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company's stock valued at $447,000 after purchasing an additional 74 shares during the period. Finally, Centurion Wealth Management LLC grew its position in shares of Philip Morris International by 3.5% during the 4th quarter. Centurion Wealth Management LLC now owns 2,229 shares of the company's stock worth $268,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price objective for the company. UBS Group increased their target price on Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a report on Friday, February 7th. Stifel Nicolaus boosted their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $144.56.

Philip Morris International Trading Down 7.2 %

Philip Morris International stock traded down $11.60 during midday trading on Friday, reaching $150.47. The company's stock had a trading volume of 11,946,492 shares, compared to its average volume of 5,521,053. The stock has a market cap of $234.20 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $163.08. The business has a 50-day moving average price of $149.12 and a 200-day moving average price of $133.20.

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

Philip Morris International Dividend Announcement

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 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 3.59%. Philip Morris International's dividend payout ratio (DPR) is presently 119.73%.

Insider Activity

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the sale, the vice president now directly owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,822 shares of company stock worth $19,655,585. Insiders own 0.13% of the company's stock.

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.