Cullen Frost Bankers Inc. Buys 8,453 Shares of Philip Morris International Inc. $PM

Cullen Frost Bankers Inc. increased its position in Philip Morris International Inc. (NYSE:PM) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,421 shares of the company’s stock after purchasing an additional 8,453 shares during the period. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $45,160,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PM. Brighton Jones LLC boosted its stake in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after purchasing an additional 91 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Philip Morris International by 53.7% during the second quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company’s stock valued at $1,027,000 after buying an additional 1,970 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in Philip Morris International by 8.8% in the 2nd quarter. Perigon Wealth Management LLC now owns 15,327 shares of the company’s stock worth $2,792,000 after buying an additional 1,240 shares in the last quarter. Finally, PFS Partners LLC increased its holdings in Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after buying an additional 58 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Up 1.8%

NYSE PM opened at $173.06 on Friday. Philip Morris International Inc. has a 12 month low of $125.53 and a 12 month high of $186.69. The stock has a market cap of $269.39 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.86 and a beta of 0.40. The company’s 50 day moving average is $159.22 and its two-hundred day moving average is $161.48.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were paid a dividend of $1.47 per share. The ex-dividend date was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.4%. Philip Morris International’s payout ratio is 106.52%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research note on Tuesday, October 21st. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and cut their target price for the company from $220.00 to $180.00 in a research report on Tuesday. Finally, Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.