Drive Wealth Management LLC Has $484,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Drive Wealth Management LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 126.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,976 shares of the company’s stock after purchasing an additional 2,221 shares during the quarter. Drive Wealth Management LLC’s holdings in Philip Morris International were worth $484,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PM. White Lighthouse Investment Management Inc. raised its position in shares of Philip Morris International by 71.4% in the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after buying an additional 4,999 shares in the last quarter. Range Financial Group LLC increased its stake in Philip Morris International by 504.9% in the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,127 shares in the last quarter. Accredited Investors Inc. grew its position in Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the period. Park Avenue Securities LLC lifted its position in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after acquiring an additional 16,035 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Philip Morris International by 37.5% during the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after buying an additional 6,605 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

NYSE:PM opened at $127.28 on Monday. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm has a market capitalization of $197.89 billion, a PE ratio of 20.20, a P/E/G ratio of 2.01 and a beta of 0.54. The stock has a 50-day simple moving average of $125.30 and a two-hundred day simple moving average of $122.11.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.24%. Philip Morris International’s dividend payout ratio is presently 85.71%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PM shares. Citigroup boosted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. UBS Group lifted 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Morgan Stanley began coverage on shares of 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. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International 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.