Philip Morris International Inc. (NYSE:PM) Shares Bought by Summit Financial LLC

Summit Financial LLC lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 74.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,731 shares of the company’s stock after purchasing an additional 7,990 shares during the quarter. Summit Financial LLC’s holdings in Philip Morris International were worth $2,280,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Meridian Wealth Partners LLC grew its position in Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock worth $214,000 after buying an additional 70 shares during the period. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the period. Creative Financial Designs Inc. ADV increased its stake in Philip Morris International by 2.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock valued at $437,000 after purchasing an additional 73 shares in the last quarter. Balboa Wealth Partners raised its holdings in Philip Morris International by 2.0% during the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after purchasing an additional 74 shares during the last quarter. Finally, Centurion Wealth Management LLC boosted its position in Philip Morris International by 3.5% during the fourth quarter. Centurion Wealth Management LLC now owns 2,229 shares of the company’s stock worth $268,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of several research reports. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group upped their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Stifel Nicolaus upped their target price on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. 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 stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Transactions at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the sale, the insider now owns 26,828 shares of the company’s stock, valued at $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 40,643 shares of Philip Morris International stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the transaction, the chairman now owns 561,349 shares in the company, valued at $83,674,681.94. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 in the last ninety days. Insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 2.4 %

NYSE PM opened at $158.85 on Tuesday. The business’s 50-day moving average price is $146.57 and its 200 day moving average price is $132.43. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.87. The company has a market capitalization of $246.99 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.40%. Philip Morris International’s dividend payout ratio is presently 119.73%.

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.