Trust Point Inc. Has $1.39 Million Position in Philip Morris International Inc. (NYSE:PM)

Trust Point Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% during the 4th quarter, HoldingsChannel reports. The firm owned 11,527 shares of the company’s stock after purchasing an additional 1,470 shares during the quarter. Trust Point Inc.’s holdings in Philip Morris International were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. E&G Advisors LP grew its stake in shares of Philip Morris International by 2.5% in the fourth quarter. E&G Advisors LP now owns 3,669 shares of the company’s stock worth $442,000 after acquiring an additional 90 shares during the last quarter. Optas LLC lifted its position in Philip Morris International by 17.2% in the fourth quarter. Optas LLC now owns 2,587 shares of the company’s stock worth $311,000 after purchasing an additional 379 shares during the period. GDS Wealth Management bought a new position in Philip Morris International in the fourth quarter worth $202,000. Financial Life Planners bought a new position in Philip Morris International in the fourth quarter worth $86,000. Finally, Resonant Capital Advisors LLC lifted its position in Philip Morris International by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 5,017 shares of the company’s stock worth $611,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.1 %

Shares of Philip Morris International stock opened at $130.34 on Tuesday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. 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 business’s 50 day moving average is $125.23 and its 200-day moving average is $123.08.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued 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 was Thursday, December 26th. Philip Morris International’s payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PM. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. 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. 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. Finally, JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.