American International Group Inc. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,331,441 shares of the company’s stock after buying an additional 570,889 shares during the period. Philip Morris International accounts for 1.5% of American International Group Inc.’s holdings, making the stock its 22nd largest position. American International Group Inc. owned 0.34% of Philip Morris International worth $355,927,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at about $27,000. Transamerica Financial Advisors Inc. lifted its stake in Philip Morris International by 552.8% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock worth $32,000 after purchasing an additional 398 shares in the last quarter. Clean Yield Group purchased a new stake in Philip Morris International in the 4th quarter worth approximately $37,000. Litman Gregory Asset Management LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $40,000. Finally, Vigilant Capital Management LLC lifted its stake in Philip Morris International by 195.6% in the 4th quarter. Vigilant Capital Management LLC now owns 665 shares of the company’s stock worth $44,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 73.53% of the company’s stock.
NYSE PM traded down $0.99 during trading hours on Friday, reaching $84.49. 7,765,417 shares of the company’s stock traded hands, compared to its average volume of 5,232,575. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $94.26. The stock has a market cap of $131.45 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 2.23 and a beta of 0.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Tuesday, March 26th were issued a $1.14 dividend. The ex-dividend date was Monday, March 25th. This represents a $4.56 annualized dividend and a yield of 5.40%. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of Philip Morris International stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $84.76, for a total value of $4,238,000.00. Following the completion of the transaction, the chief executive officer now directly owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by insiders.
Several research firms have recently weighed in on PM. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Thursday, April 4th. Morgan Stanley lowered their price objective on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 8th. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Jefferies Financial Group reiterated a “hold” rating and issued a $80.00 target price on shares of Philip Morris International in a research report on Sunday, February 10th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $110.00 target price (down previously from $111.25) on shares of Philip Morris International in a research report on Friday, December 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $92.43.
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Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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