Manning & Napier Advisors LLC Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

Manning & Napier Advisors LLC trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 76.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,242 shares of the company's stock after selling 14,011 shares during the period. Manning & Napier Advisors LLC's holdings in Philip Morris International were worth $511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Sanctuary Advisors LLC purchased a new stake in Philip Morris International in the second quarter valued at $17,878,000. Anchor Investment Management LLC raised its position in Philip Morris International by 1.0% during the second quarter. Anchor Investment Management LLC now owns 44,493 shares of the company's stock valued at $4,508,000 after acquiring an additional 421 shares in the last quarter. Centaurus Financial Inc. lifted its holdings in Philip Morris International by 35.6% in the second quarter. Centaurus Financial Inc. now owns 13,333 shares of the company's stock valued at $1,351,000 after acquiring an additional 3,500 shares during the period. Passive Capital Management LLC. purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $211,000. Finally, First Financial Bank Trust Division grew its stake in shares of Philip Morris International by 3.9% during the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company's stock worth $306,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Trading Down 0.1 %

PM stock traded down $0.16 during midday trading on Friday, reaching $130.16. The stock had a trading volume of 5,331,134 shares, compared to its average volume of 4,484,783. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company has a market cap of $202.37 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The company's fifty day simple moving average is $125.23 and its 200 day simple moving average is $122.98.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.15%. Philip Morris International's payout ratio is presently 85.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a research note on Wednesday, October 23rd. Morgan Stanley began coverage on Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price target on the stock. Finally, Stifel Nicolaus restated a "buy" rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $131.35.

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.