SLT Holdings LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,526 shares of the company's stock, valued at approximately $665,000.
Several other institutional investors have also made changes to their positions in the stock. State Street Corp lifted its position in Philip Morris International by 0.4% during the third quarter. State Street Corp now owns 54,711,621 shares of the company's stock worth $6,715,237,000 after purchasing an additional 224,840 shares during the period. Geode Capital Management LLC raised its position in shares of Philip Morris International by 2.0% in 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 buying an additional 621,034 shares in the last quarter. FMR LLC raised its position in shares of Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company's stock valued at $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Philip Morris International by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock valued at $1,934,083,000 after buying an additional 2,785,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Philip Morris International by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company's stock valued at $1,615,449,000 after buying an additional 190,201 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Barclays boosted their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, UBS Group lifted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $144.56.
View Our Latest Research Report on PM
Insiders Place Their Bets
In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value 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. The trade was a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was 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 in the company, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 in the last ninety days. 0.13% of the stock is currently owned by insiders.
Philip Morris International Stock Performance
Shares of Philip Morris International stock traded down $0.87 during midday trading on Wednesday, hitting $151.23. 5,179,671 shares of the company traded hands, compared to its average volume of 5,205,821. The stock has a market cap of $235.14 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 2.65 and a beta of 0.53. The firm's fifty day moving average price is $137.92 and its 200-day moving average price is $129.73. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.51.
Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.
Philip Morris International Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International's payout ratio is 119.73%.
Philip Morris International Company Profile
(
Free Report)
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.
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