Ninety One North America Inc. Increases Position in Philip Morris International Inc. (NYSE:PM)

Ninety One North America Inc. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 636,336 shares of the company’s stock after purchasing an additional 21,169 shares during the quarter. Philip Morris International accounts for 4.7% of Ninety One North America Inc.’s holdings, making the stock its 4th biggest position. Ninety One North America Inc.’s holdings in Philip Morris International were worth $76,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PM. Valley Wealth Managers Inc. raised its holdings in Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares in the last quarter. Dunhill Financial LLC lifted its holdings in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners boosted its position in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after purchasing an additional 298 shares during the period. Asset Dedication LLC grew its holdings in Philip Morris International by 55.5% during the fourth quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after purchasing an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Philip Morris International in the third quarter valued at approximately $54,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

PM opened at $130.59 on Tuesday. The business’s 50-day simple moving average is $125.23 and its 200 day simple moving average is $123.08. The firm has a market capitalization of $203.04 billion, a PE ratio of 20.71, a PEG ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15.

Philip Morris International Announces Dividend

The company also recently announced 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 dividend payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PM shares. Citigroup lifted their target price 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. Barclays lowered their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price 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. 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’s stock. Based on data from MarketBeat, the company 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.