Ridgecrest Wealth Partners LLC Trims Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Ridgecrest Wealth Partners LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,651 shares of the company’s stock after selling 500 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Philip Morris International were worth $560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its holdings in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. National Bank of Canada FI raised its position in shares of Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after purchasing an additional 1,165,554 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Philip Morris International by 13,666.6% during the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock valued at $121,367,000 after purchasing an additional 992,467 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.5 %

Shares of NYSE:PM opened at $127.28 on Monday. The stock has a market capitalization of $197.89 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The firm’s 50 day moving average price is $125.30 and its 200-day moving average price is $122.25. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PM. UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Morgan Stanley began coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays lowered their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup boosted their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.35.

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.