Philip Morris International Inc. (NYSE:PM) Stock Holdings Cut by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its position in Philip Morris International Inc. (NYSE:PM) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,833 shares of the company’s stock after selling 932 shares during the period. Confluence Wealth Services Inc.’s holdings in Philip Morris International were worth $1,735,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PM. Lion Street Advisors LLC grew its holdings in Philip Morris International by 59.6% during the fourth quarter. Lion Street Advisors LLC now owns 4,133 shares of the company’s stock worth $497,000 after acquiring an additional 1,543 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Philip Morris International by 50.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,525 shares of the company’s stock valued at $21,117,000 after purchasing an additional 58,827 shares in the last quarter. Montgomery Investment Management Inc. acquired a new position in shares of Philip Morris International in the 4th quarter worth approximately $202,000. Alexander Labrunerie & CO. Inc. raised its holdings in shares of Philip Morris International by 7.0% in the 4th quarter. Alexander Labrunerie & CO. Inc. now owns 3,073 shares of the company’s stock worth $370,000 after purchasing an additional 202 shares in the last quarter. Finally, Stratos Investment Management LLC raised its holdings in shares of Philip Morris International by 13.1% in the 4th quarter. Stratos Investment Management LLC now owns 5,603 shares of the company’s stock worth $674,000 after purchasing an additional 651 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $130.42 on Wednesday. The company has a market capitalization of $202.78 billion, a PE ratio of 20.70, a PEG ratio of 2.30 and a beta of 0.55. The company’s 50 day moving average price is $125.18 and its 200 day moving average price is $123.41. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International Dividend Announcement

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. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analysts Set New Price Targets

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

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.