OVERSEA CHINESE BANKING Corp Ltd Buys New Shares in Philip Morris International Inc. (NYSE:PM)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Philip Morris International Inc. (NYSE:PM) in the 4th quarter, Holdings Channel reports. The firm bought 2,387 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners grew its stake in shares of Philip Morris International by 6.5% in the fourth quarter. Boston Partners now owns 6,206,501 shares of the company’s stock valued at $747,774,000 after buying an additional 376,796 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Philip Morris International in the fourth quarter valued at $5,978,000. Evoke Wealth LLC grew its stake in shares of Philip Morris International by 14.8% in the fourth quarter. Evoke Wealth LLC now owns 3,003 shares of the company’s stock valued at $365,000 after buying an additional 388 shares in the last quarter. Horizon Investments LLC boosted its position in Philip Morris International by 2.2% during the fourth quarter. Horizon Investments LLC now owns 28,335 shares of the company’s stock worth $3,410,000 after purchasing an additional 616 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Philip Morris International by 2.0% during the fourth quarter. Advisors Asset Management Inc. now owns 125,973 shares of the company’s stock worth $15,161,000 after purchasing an additional 2,512 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $152.12 on Friday. The firm has a 50-day moving average of $141.69 and a 200-day moving average of $130.95. The stock has a market cap of $236.53 billion, a PE ratio of 33.73, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $159.51.

Philip Morris International (NYSE:PM) last posted its quarterly 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 negative return on equity of 120.08% and a net margin of 7.89%. Equities research analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total value of $378,200.00. Following the transaction, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 over the last quarter. 0.13% of the stock is owned by corporate insiders.

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.