abrdn plc Sells 19,263 Shares of Philip Morris International Inc. (NYSE:PM)

abrdn plc trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 813,956 shares of the company’s stock after selling 19,263 shares during the period. abrdn plc owned approximately 0.05% of Philip Morris International worth $97,744,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in shares of Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after buying an additional 224,840 shares during the period. Geode Capital Management LLC increased its holdings in Philip Morris International by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC increased its holdings in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Franklin Resources Inc. increased its holdings in Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after purchasing an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $130.34 on Tuesday. The stock has a market cap of $202.65 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.30 and a beta of 0.55. The stock’s 50 day simple moving average is $125.23 and its 200-day simple moving average is $123.08. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Barclays lowered their price objective on 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. Citigroup raised their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. One 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. According to data from MarketBeat.com, the company currently 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.