Forge Financial Services LLC Makes New Investment in Philip Morris International Inc. (NYSE:PM)

Forge Financial Services LLC bought a new stake in Philip Morris International Inc. (NYSE:PM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,906 shares of the company’s stock, valued at approximately $229,000. Philip Morris International makes up 0.2% of Forge Financial Services LLC’s investment portfolio, making the stock its 17th biggest position.

Several other large investors have also modified their holdings of PM. GQG Partners LLC raised its stake in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $522,214,000. Geode Capital Management LLC raised its position in shares of Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after acquiring an additional 3,185,258 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock worth $1,934,083,000 after purchasing an additional 2,785,987 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Philip Morris International by 9.6% in the fourth quarter. Franklin Resources Inc. now owns 14,249,131 shares of the company’s stock worth $1,714,883,000 after purchasing an additional 1,248,561 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PM shares. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group boosted their price objective on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus increased their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.56.

Philip Morris International Stock Performance

Shares of PM stock opened at $162.21 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $163.08. The firm has a market capitalization of $252.47 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. The stock has a fifty day moving average of $148.66 and a two-hundred day moving average of $133.03.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating 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 predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.33%. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

Insider Buying and Selling at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by corporate insiders.

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.