Princeton Global Asset Management LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Princeton Global Asset Management LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 4.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,142 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Philip Morris International were worth $619,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. increased its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC boosted its position in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners grew its stake in shares of Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the period. Asset Dedication LLC increased its position in shares of Philip Morris International by 55.5% during the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after purchasing an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Philip Morris International in the 3rd quarter worth approximately $54,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $130.16 on Monday. The stock has a market capitalization of $202.37 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The business’s 50 day simple moving average is $125.23 and its 200-day simple moving average is $122.98.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors 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 yield of 4.15%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. Stifel Nicolaus restated a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays dropped their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. One 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.35.

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.