Philip Morris International Inc. (NYSE:PM) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its position in Philip Morris International Inc. (NYSE:PM) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 96,091 shares of the company’s stock after selling 1,859 shares during the quarter. Hartford Investment Management Co.’s holdings in Philip Morris International were worth $11,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Valley Wealth Managers Inc. raised its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares in the last quarter. Concord Wealth Partners increased its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Asset Dedication LLC grew its stake in Philip Morris International by 55.5% in 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 in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Philip Morris International during the third quarter valued at approximately $54,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays cut their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group raised their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus price target of $134.35.

Philip Morris International Stock Performance

Shares of PM opened at $148.17 on Wednesday. The stock has a fifty day moving average price of $125.98 and a two-hundred day moving average price of $124.29. The company has a market cap of $230.37 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $148.53.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. As a group, research analysts predict that Philip Morris International Inc. will post 7.11 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 119.73%.

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.