Stock Yards Bank & Trust Co. Lowers Position in Philip Morris International Inc. (NYSE:PM)

Stock Yards Bank & Trust Co. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 107,006 shares of the company’s stock after selling 3,550 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Philip Morris International were worth $12,878,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. White Lighthouse Investment Management Inc. lifted its holdings in shares of Philip Morris International by 71.4% in the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after acquiring an additional 4,999 shares during the last quarter. Range Financial Group LLC boosted its stake in shares of Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,127 shares during the period. Accredited Investors Inc. grew its holdings in shares of Philip Morris International by 3,553.3% in the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after purchasing an additional 201,294 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Philip Morris International by 18.9% in the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after buying an additional 16,035 shares during the period. Finally, CWA Asset Management Group LLC raised its holdings in Philip Morris International by 37.5% during the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after buying an additional 6,605 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PM has been the topic of a number of analyst reports. Barclays decreased their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley began coverage on Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Price Performance

NYSE:PM opened at $130.16 on Monday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The company’s 50-day simple moving average is $125.23 and its 200 day simple moving average is $122.98. The firm has a market capitalization of $202.37 billion, a P/E ratio of 20.66, a PEG ratio of 2.30 and a beta of 0.55.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued 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 dividend yield of 4.15%. Philip Morris International’s payout ratio is presently 85.71%.

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.