Independent Advisor Alliance Sells 4,251 Shares of Philip Morris International Inc. $PM

Independent Advisor Alliance reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,895 shares of the company’s stock after selling 4,251 shares during the period. Independent Advisor Alliance’s holdings in Philip Morris International were worth $11,823,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PM. WCM Investment Management LLC increased its stake in shares of Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares during the period. Vanguard Group Inc. increased its position in Philip Morris International by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Philip Morris International by 69.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,512,311 shares of the company’s stock worth $821,826,000 after buying an additional 1,842,754 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Philip Morris International by 88.9% in the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock valued at $389,415,000 after acquiring an additional 1,006,014 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in shares of Philip Morris International by 142.2% in the second quarter. Panagora Asset Management Inc. now owns 1,512,514 shares of the company’s stock worth $275,474,000 after acquiring an additional 888,148 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PM shares. Jefferies Financial Group cut 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 note on Tuesday, January 20th. Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a research note on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Barclays decreased their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Price Performance

Shares of PM stock opened at $179.42 on Friday. The stock’s fifty day simple moving average is $161.53 and its 200 day simple moving average is $161.42. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69. The firm has a market cap of $279.29 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 1.92 and a beta of 0.40.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a $1.47 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $5.88 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

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.