Argent Trust Co Purchases 2,408 Shares of Philip Morris International Inc. (NYSE:PM)

Argent Trust Co raised its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,764 shares of the company's stock after acquiring an additional 2,408 shares during the quarter. Argent Trust Co's holdings in Philip Morris International were worth $7,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. GQG Partners LLC increased its stake in shares of Philip Morris International by 14.3% during the fourth 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 period. Raymond James Financial Inc. acquired a new position in Philip Morris International in the 4th quarter valued at $522,214,000. Geode Capital Management LLC increased its position in Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Philip Morris International by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 14,249,131 shares of the company's stock valued at $1,714,883,000 after acquiring an additional 1,248,561 shares during the period. Institutional investors own 78.63% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Thursday. Morgan Stanley began coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price target for the company. UBS Group raised their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, StockNews.com lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $145.44.

Insider Activity

In other news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % 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 0.14% of the company's stock.

Philip Morris International Price Performance

NYSE:PM traded up $2.68 during trading hours on Friday, hitting $153.85. The company's stock had a trading volume of 6,458,822 shares, compared to its average volume of 5,569,399. The company has a market capitalization of $239.47 billion, a P/E ratio of 34.11, a PEG ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $163.08. The stock has a fifty day simple moving average of $152.03 and a 200-day simple moving average of $134.63.

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 for the quarter, beating analysts' consensus estimates 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%. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's payout ratio is 119.73%.

About Philip Morris International

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.