Asset Dedication LLC Grows Holdings in Philip Morris International Inc. (NYSE:PM)

Asset Dedication LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 55.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 412 shares of the company’s stock after buying an additional 147 shares during the period. Asset Dedication LLC’s holdings in Philip Morris International were worth $50,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PM. Valley Wealth Managers Inc. grew its stake in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Dunhill Financial LLC raised its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. Concord Wealth Partners lifted its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Philip Morris International during the third quarter worth $54,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Philip Morris International in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PM shares. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Barclays decreased their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Price Performance

Shares of NYSE PM opened at $130.32 on Friday. The stock has a fifty day moving average price of $125.24 and a 200 day moving average price of $122.63. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company has a market cap of $202.63 billion, a PE ratio of 20.69, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Dividend Announcement

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

About Philip Morris International

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.