Symphony Financial Ltd. Co. Decreases Holdings in Philip Morris International Inc. (NYSE:PM)

Symphony Financial Ltd. Co. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 27.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 34,651 shares of the company’s stock after selling 13,414 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Philip Morris International were worth $4,279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. FMR LLC boosted its stake in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after acquiring an additional 6,721,094 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the period. National Bank of Canada FI lifted its stake in Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Philip Morris International by 14,611.4% during the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares during the period. Finally, International Assets Investment Management LLC increased its position in Philip Morris International by 13,666.6% in the third quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after buying an additional 992,467 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 0.1 %

Shares of PM opened at $130.16 on Friday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market cap of $202.37 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 2.29 and a beta of 0.54. The stock has a 50-day moving average price of $125.23 and a 200-day moving average price of $122.86.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.15%. Philip Morris International’s payout ratio is presently 85.71%.

Analyst Ratings Changes

A number of brokerages have recently commented on PM. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. 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 restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.