Waters Parkerson & CO. LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 339,750 shares of the company’s stock after buying an additional 2,317 shares during the period. Philip Morris International comprises about 1.9% of Waters Parkerson & CO. LLC’s portfolio, making the stock its 18th biggest position. Waters Parkerson & CO. LLC’s holdings in Philip Morris International were worth $31,454,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Philip Morris International in the third quarter valued at approximately $27,000. PCA Investment Advisory Services Inc. acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $27,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Philip Morris International in the third quarter valued at approximately $36,000. Spotlight Asset Group Inc. acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $37,000. Finally, Legacy Financial Group LLC acquired a new stake in shares of Philip Morris International during the third quarter worth $37,000. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Price Performance
NYSE:PM traded up $0.42 during mid-day trading on Monday, reaching $89.54. The company’s stock had a trading volume of 201,170 shares, compared to its average volume of 4,893,706. The company’s fifty day simple moving average is $93.14 and its two-hundred day simple moving average is $93.46. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $103.79. The stock has a market cap of $139.00 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.45 and a beta of 0.63.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend was Wednesday, December 20th. Philip Morris International’s dividend payout ratio is currently 103.59%.
In related news, insider Wilde Frederic De sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $94.25, for a total transaction of $942,500.00. Following the sale, the insider now directly owns 198,447 shares in the company, valued at approximately $18,703,629.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on PM. JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, November 29th. Redburn Atlantic began coverage on Philip Morris International in a report on Thursday, November 16th. They set a “neutral” rating and a $95.00 price target for the company. Finally, UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and decreased their price target for the stock from $105.00 to $86.50 in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $107.39.
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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