Securian Asset Management Inc. cut its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 43.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,328 shares of the company’s stock after selling 32,846 shares during the quarter. Securian Asset Management Inc.’s holdings in Philip Morris International were worth $6,789,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Philip Morris International by 10.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock valued at $84,922,000 after buying an additional 51,399 shares during the period. Schroder Investment Management Group boosted its holdings in Philip Morris International by 10.2% in the third quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock worth $49,251,000 after acquiring an additional 27,979 shares in the last quarter. Trajan Wealth LLC boosted its holdings in Philip Morris International by 31.2% in the third quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock worth $21,458,000 after acquiring an additional 31,490 shares in the last quarter. Dynasty Wealth Management LLC boosted its holdings in Philip Morris International by 53.0% in the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock worth $4,505,000 after acquiring an additional 9,622 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Philip Morris International by 23.6% during the third quarter. Stratos Wealth Partners LTD. now owns 43,926 shares of the company’s stock worth $7,125,000 after purchasing an additional 8,392 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Philip Morris International Price Performance
PM stock opened at $170.88 on Monday. The firm has a market capitalization of $266.32 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.97 and a beta of 0.37. The business’s 50-day moving average is $166.69 and its two-hundred day moving average is $164.47. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $191.30.
Philip Morris International Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Thursday, March 19th were paid a dividend of $1.47 per share. The ex-dividend date was Thursday, March 19th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s payout ratio is presently 82.70%.
Insider Activity at Philip Morris International
In other Philip Morris International news, CFO Emmanuel Babeau sold 33,800 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $181.61, for a total value of $6,138,418.00. Following the transaction, the chief financial officer directly owned 164,463 shares in the company, valued at approximately $29,868,125.43. This trade represents a 17.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jacek Olczak sold 80,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $182.18, for a total value of $14,574,400.00. Following the completion of the transaction, the chief executive officer owned 632,344 shares in the company, valued at $115,200,429.92. This trade represents a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on PM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Thursday, January 22nd. Morgan Stanley dropped their price target on Philip Morris International from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and dropped their price target for the stock from $220.00 to $180.00 in a research report on Tuesday, January 20th. Citigroup upped their target price on Philip Morris International from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Finally, UBS Group lowered their price target on Philip Morris International from $181.50 to $168.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $192.56.
View Our Latest Stock Analysis on Philip Morris International
Philip Morris International 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.
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