Philip Morris International Inc. (NYSE:PM) Position Reduced by Kennebec Savings Bank

Kennebec Savings Bank cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,438 shares of the company’s stock after selling 265 shares during the quarter. Kennebec Savings Bank’s holdings in Philip Morris International were worth $639,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PM. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC boosted its holdings in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares during the last quarter. Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the period. Asset Dedication LLC lifted its holdings in Philip Morris International by 55.5% during the fourth quarter. Asset Dedication LLC now owns 412 shares of the company’s stock worth $50,000 after acquiring an additional 147 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Philip Morris International in the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of analyst reports. Citigroup upped their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International Stock Up 0.6 %

Shares of PM stock opened at $130.32 on Friday. The firm has a market cap of $202.63 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The business has a 50-day moving average price of $125.24 and a two-hundred day moving average price of $122.63. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis 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.