SeaBridge Investment Advisors LLC Buys New Shares in Philip Morris International Inc. (NYSE:PM)

SeaBridge Investment Advisors LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,490 shares of the company's stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. State Street Corp increased its holdings in shares of Philip Morris International by 0.4% during the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company's stock valued at $6,715,237,000 after purchasing an additional 224,840 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Philip Morris International by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company's stock valued at $3,886,818,000 after acquiring an additional 621,034 shares during the period. FMR LLC grew its holdings in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company's stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Franklin Resources Inc. raised its stake in shares of Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company's stock worth $1,560,752,000 after buying an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock valued at $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PM. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Stifel Nicolaus reissued a "buy" rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price on the stock. Finally, Barclays decreased their target price on shares of 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, two have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.35.

Philip Morris International Stock Down 0.1 %

Shares of PM traded down $0.16 during trading on Friday, reaching $130.16. 5,331,134 shares of the company traded hands, compared to its average volume of 4,484,783. The stock has a 50-day simple moving average of $125.23 and a 200-day simple moving average of $122.98. The stock has a market cap of $202.37 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International Announces Dividend

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

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.