NewEdge Wealth LLC Raises Holdings in Philip Morris International Inc. (NYSE:PM)

NewEdge Wealth LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,709 shares of the company’s stock after buying an additional 559 shares during the quarter. NewEdge Wealth LLC’s holdings in Philip Morris International were worth $7,186,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Magnolia Private Wealth LLC purchased a new stake in shares of Philip Morris International during the fourth quarter valued at $246,000. National Pension Service raised its position in shares of Philip Morris International by 17.5% in the fourth quarter. National Pension Service now owns 3,579,451 shares of the company’s stock worth $430,787,000 after acquiring an additional 533,845 shares during the period. Advisor OS LLC raised its position in shares of Philip Morris International by 6.0% in the fourth quarter. Advisor OS LLC now owns 6,107 shares of the company’s stock worth $735,000 after acquiring an additional 345 shares during the period. Lake Street Advisors Group LLC raised its position in shares of Philip Morris International by 9.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 8,491 shares of the company’s stock worth $1,033,000 after acquiring an additional 721 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in shares of Philip Morris International by 46.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 134,045 shares of the company’s stock worth $16,132,000 after acquiring an additional 42,420 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the sale, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This represents a 19.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the sale, the chief executive officer now owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,143 shares of company stock worth $19,092,846. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Stifel Nicolaus upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Barclays upped their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.56.

Philip Morris International Price Performance

Philip Morris International stock opened at $153.95 on Friday. The firm has a 50 day simple moving average of $132.28 and a 200-day simple moving average of $127.47. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $158.39. The stock has a market cap of $239.37 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 2.65 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 3.51%. Philip Morris International’s dividend payout ratio is currently 119.73%.

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.