Harbour Trust & Investment Management Co Cuts Stake in Philip Morris International Inc. (NYSE:PM)

Harbour Trust & Investment Management Co lessened its stake in Philip Morris International Inc. (NYSE:PM) by 5.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,791 shares of the company’s stock after selling 352 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Philip Morris International were worth $697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Valley Wealth Managers Inc. increased its stake in 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 acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC raised its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners boosted its holdings in 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 acquiring an additional 298 shares during the period. Asset Dedication LLC boosted its stake in shares of Philip Morris International by 55.5% during the fourth 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 period. Finally, Darwin Wealth Management LLC bought a new position in Philip Morris International in the 3rd quarter worth about $54,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.6 %

Shares of NYSE PM opened at $144.40 on Monday. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $146.78. The firm has a market cap of $224.51 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The company’s 50-day simple moving average is $125.66 and its 200-day simple moving average is $123.97.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. Equities research analysts anticipate that Philip Morris International Inc. will post 7.11 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company 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 dividend yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Analysts Set New Price Targets

Several analysts recently weighed in on PM shares. Barclays decreased their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $134.35.

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.