Philip Morris International Inc. (NYSE:PM) Stake Boosted by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its stake in Philip Morris International Inc. (NYSE:PM) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,875 shares of the company’s stock after purchasing an additional 1,642 shares during the period. Congress Wealth Management LLC DE’s holdings in Philip Morris International were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock valued at $16,780,688,000 after buying an additional 1,167,810 shares during the last quarter. State Street Corp increased its holdings in shares of Philip Morris International by 0.4% in the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after acquiring an additional 224,840 shares during the period. Geode Capital Management LLC lifted its position in Philip Morris International by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after purchasing an additional 621,034 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Philip Morris International by 21.0% during the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock valued at $1,934,083,000 after purchasing an additional 2,785,987 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Philip Morris International by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company’s stock worth $1,615,449,000 after purchasing an additional 190,201 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Buying and Selling

In related news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. This represents a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,822 shares of company stock worth $19,655,585. Insiders own 0.13% of the company’s stock.

Philip Morris International Price Performance

PM stock opened at $155.21 on Friday. The firm has a market cap of $241.33 billion, a PE ratio of 34.41, a P/E/G ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $159.51. The firm has a 50 day simple moving average of $145.16 and a 200 day simple moving average of $131.91.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.48%. Philip Morris International’s payout ratio is 119.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Stifel Nicolaus raised their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $144.56.

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.