Cullinan Associates Inc. Sells 1,030 Shares of Philip Morris International Inc. (NYSE:PM)

Cullinan Associates Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,220 shares of the company’s stock after selling 1,030 shares during the quarter. Cullinan Associates Inc.’s holdings in Philip Morris International were worth $5,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Point Inc. lifted its stake in shares of Philip Morris International by 14.6% in the 4th quarter. Trust Point Inc. now owns 11,527 shares of the company’s stock valued at $1,387,000 after purchasing an additional 1,470 shares during the last quarter. E&G Advisors LP lifted its stake in Philip Morris International by 2.5% in the 4th quarter. E&G Advisors LP now owns 3,669 shares of the company’s stock valued at $442,000 after buying an additional 90 shares in the last quarter. Optas LLC lifted its holdings in shares of Philip Morris International by 17.2% during the 4th quarter. Optas LLC now owns 2,587 shares of the company’s stock worth $311,000 after acquiring an additional 379 shares during the period. GDS Wealth Management purchased a new stake in shares of Philip Morris International in the fourth quarter worth about $202,000. Finally, Financial Life Planners acquired a new stake in shares of Philip Morris International in the 4th quarter valued at about $86,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $130.34 on Tuesday. The company has a 50-day simple moving average of $125.23 and a two-hundred day simple moving average of $123.08. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company has a market capitalization of $202.65 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.30 and a beta of 0.55.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. Philip Morris International’s payout ratio is 85.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. Barclays reduced their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target 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.