Ferguson Wellman Capital Management Inc. increased its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,570 shares of the company’s stock after acquiring an additional 4,443 shares during the quarter. Philip Morris International comprises about 1.3% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Philip Morris International were worth $78,046,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Second Line Capital LLC increased its stake in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after purchasing an additional 61 shares during the period. Meridian Wealth Partners LLC boosted its stake in Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after purchasing an additional 62 shares during the period. Bernardo Wealth Planning LLC grew its holdings in Philip Morris International by 1.8% in the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after buying an additional 62 shares during the last quarter. Nia Impact Advisors LLC increased its position in Philip Morris International by 4.2% in the 2nd quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock worth $287,000 after buying an additional 63 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management increased its position in Philip Morris International by 3.7% in the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,811 shares of the company’s stock worth $330,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.
Philip Morris International Trading Up 1.0%
PM opened at $165.46 on Thursday. The stock has a market cap of $257.57 billion, a PE ratio of 22.76, a P/E/G ratio of 1.87 and a beta of 0.38. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $191.30. The stock’s 50 day simple moving average is $177.01 and its 200-day simple moving average is $164.23.
Philip Morris International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 19th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, March 19th. Philip Morris International’s dividend payout ratio (DPR) is presently 80.88%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Philip Morris International from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Needham & Company LLC increased their price target on shares of Philip Morris International from $190.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. UBS Group restated a “neutral” rating and issued a $181.50 price target on shares of Philip Morris International in a research report on Monday, February 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Philip Morris International in a research report on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.83.
Insider Activity
In related news, CFO Emmanuel Babeau sold 33,800 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $181.61, for a total value of $6,138,418.00. Following the completion of the transaction, the chief financial officer owned 164,463 shares of the company’s stock, valued at $29,868,125.43. This represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jacek Olczak sold 80,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the transaction, the chief executive officer owned 632,344 shares of the company’s stock, valued at approximately $115,200,429.92. This represents a 11.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.
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.
Featured Stories
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.
