Wick Capital Partners LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 144,516 shares of the company’s stock, valued at approximately $23,180,000. Philip Morris International accounts for approximately 1.7% of Wick Capital Partners LLC’s holdings, making the stock its 13th largest holding.
Other hedge funds also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth $131,000. WealthPoint Financial LLC bought a new position in Philip Morris International during the fourth quarter valued at about $310,000. Van Diest Capital LLC bought a new position in Philip Morris International during the fourth quarter valued at about $748,000. Compound Planning Inc. boosted its stake in Philip Morris International by 18.6% during the fourth quarter. Compound Planning Inc. now owns 18,066 shares of the company’s stock valued at $2,898,000 after buying an additional 2,830 shares in the last quarter. Finally, Claris Financial LLC acquired a new position in Philip Morris International during the fourth quarter worth about $585,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Stock Down 0.4%
Shares of NYSE PM opened at $178.68 on Friday. The stock’s fifty day simple moving average is $174.44 and its 200 day simple moving average is $170.61. The stock has a market capitalization of $278.48 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.07 and a beta of 0.38. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $193.05.
Philip Morris International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 25th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a yield of 3.3%. Philip Morris International’s dividend payout ratio is currently 82.70%.
Analysts Set New Price Targets
Several brokerages have commented on PM. Morgan Stanley boosted their price target on shares of Philip Morris International from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Barclays restated an “overweight” rating and set a $205.00 price objective on shares of Philip Morris International in a research report on Monday, February 23rd. Stifel Nicolaus dropped their target price on shares of Philip Morris International from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, April 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Finally, Bank of America reissued a “buy” rating on shares of Philip Morris International in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.88.
Check Out Our Latest Stock Analysis on PM
About Philip Morris International
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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