Philip Morris International Inc. (NYSE:PM) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 328.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 21,656 shares of the company’s stock after buying an additional 16,606 shares during the period. Sunbelt Securities Inc.’s holdings in Philip Morris International were worth $2,599,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Meridian Wealth Partners LLC lifted its stake in shares of Philip Morris International by 4.1% during the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock worth $214,000 after purchasing an additional 70 shares during the period. NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in Philip Morris International by 2.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock worth $437,000 after buying an additional 73 shares during the period. Balboa Wealth Partners boosted its stake in Philip Morris International by 2.0% in the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after buying an additional 74 shares during the last quarter. Finally, Cravens & Co Advisors LLC boosted its stake in Philip Morris International by 0.7% in the 4th quarter. Cravens & Co Advisors LLC now owns 10,052 shares of the company’s stock worth $1,210,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PM shares. Citigroup upped their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Needham & Company LLC began coverage on shares of Philip Morris International in a report on Thursday. They set a “buy” rating and a $195.00 price target for the company. Finally, Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Philip Morris International Price Performance

Shares of PM stock opened at $175.23 on Friday. The firm has a fifty day moving average of $162.11 and a two-hundred day moving average of $143.44. The firm has a market cap of $272.75 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $176.49.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 111.34%.

Insider Activity at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

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.