Philip Morris International Inc. (NYSE:PM) Stake Reduced by Clarity Financial LLC

Clarity Financial LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 19.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,495 shares of the company’s stock after selling 615 shares during the period. Clarity Financial LLC’s holdings in Philip Morris International were worth $300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mediolanum International Funds Ltd increased its holdings in shares of Philip Morris International by 19.0% in the fourth quarter. Mediolanum International Funds Ltd now owns 43,256 shares of the company’s stock valued at $5,178,000 after buying an additional 6,897 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $398,000. Lewis Asset Management LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $284,000. Busey Bank raised its holdings in Philip Morris International by 2.2% during the 4th quarter. Busey Bank now owns 194,038 shares of the company’s stock worth $23,353,000 after buying an additional 4,229 shares during the period. Finally, Abel Hall LLC acquired a new position in shares of Philip Morris International in the fourth quarter worth about $207,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $130.32 on Friday. The stock has a 50-day simple moving average of $125.24 and a 200-day simple moving average of $122.63. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm has a market cap of $202.63 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 2.29 and a beta of 0.54.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is 85.71%.

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.