Philip Morris International Inc. (NYSE:PM) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,027 shares of the company’s stock after purchasing an additional 2,119 shares during the period. Perigon Wealth Management LLC’s holdings in Philip Morris International were worth $1,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PM. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 3.6% during the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after purchasing an additional 84 shares during the last quarter. Woodmont Investment Counsel LLC boosted its stake in Philip Morris International by 1.6% in the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after acquiring an additional 86 shares during the period. YHB Investment Advisors Inc. boosted its stake in Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares during the period. Cypress Wealth Services LLC boosted its stake in Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after acquiring an additional 89 shares during the period. Finally, Luts & Greenleigh Group Inc. boosted its stake in Philip Morris International by 1.1% in the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock valued at $1,026,000 after acquiring an additional 89 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PM. Citigroup lifted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Price Performance

PM opened at $129.62 on Thursday. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The business has a 50 day moving average price of $125.26 and a two-hundred day moving average price of $122.59.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.17%. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

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.