Kennedy Investment Group Invests $542,000 in Philip Morris International Inc. (NYSE:PM)

Kennedy Investment Group purchased a new position in Philip Morris International Inc. (NYSE:PM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,501 shares of the company’s stock, valued at approximately $542,000.

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

Philip Morris International Stock Down 1.1 %

NYSE PM opened at $129.06 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The business’s fifty day simple moving average is $125.27 and its 200-day simple moving average is $122.42. The firm has a market cap of $200.66 billion, a PE ratio of 20.49, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analysts Set New Price Targets

Several research firms have commented on PM. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley assumed 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 for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research 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. According to data from MarketBeat.com, the stock currently has a consensus 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.