Allen Capital Group LLC lifted its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,735 shares of the company’s stock after buying an additional 740 shares during the period. Allen Capital Group LLC’s holdings in Philip Morris International were worth $450,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PM. State Street Corp lifted its stake 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 lifted its stake in Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC lifted its stake in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Franklin Resources Inc. lifted its stake in Philip Morris International by 3.0% during the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after purchasing an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. Institutional investors own 78.63% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Morgan Stanley started coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Barclays lowered their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $131.35.
Philip Morris International Stock Up 0.5 %
PM opened at $129.62 on Thursday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The company has a fifty day moving average of $125.26 and a 200-day moving average of $122.59. The stock has a market cap of $201.53 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.
Philip Morris International Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date 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.
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