Hartford Investment Management Co. Sells 1,859 Shares of Philip Morris International Inc. (NYSE:PM)

Hartford Investment Management Co. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,091 shares of the company's stock after selling 1,859 shares during the quarter. Hartford Investment Management Co.'s holdings in Philip Morris International were worth $11,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. increased its stake in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 183 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 purchasing an additional 161 shares in the last quarter. Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company's stock worth $38,000 after purchasing an additional 298 shares during the period. Asset Dedication LLC grew its position in Philip Morris International by 55.5% in the 4th quarter. Asset Dedication LLC now owns 412 shares of the company's stock valued at $50,000 after buying an additional 147 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Philip Morris International during the 3rd quarter valued at about $54,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PM. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday. UBS Group upped their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an "overweight" rating and a $140.00 target price on the stock. Finally, Barclays lowered their target price on Philip Morris International from $155.00 to $145.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.35.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $1.96 during trading on Wednesday, hitting $149.94. 5,268,277 shares of the stock were exchanged, compared to its average volume of 5,523,627. The company's fifty day simple moving average is $126.34 and its 200-day simple moving average is $124.54. The company has a market capitalization of $233.13 billion, a price-to-earnings ratio of 33.25, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $150.24.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.24% and a negative return on equity of 120.08%. On average, research analysts forecast that Philip Morris International Inc. will post 7.11 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 3.60%. Philip Morris International's dividend payout ratio (DPR) is presently 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.