OLD National Bancorp IN Sells 7,626 Shares of Philip Morris International Inc. (NYSE:PM)

OLD National Bancorp IN decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 15.1% during the 4th quarter, HoldingsChannel reports. The firm owned 43,021 shares of the company’s stock after selling 7,626 shares during the quarter. OLD National Bancorp IN’s holdings in Philip Morris International were worth $5,178,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. White Lighthouse Investment Management Inc. grew its position in Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,999 shares during the last quarter. Range Financial Group LLC grew its holdings in shares of Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,127 shares during the last quarter. Accredited Investors Inc. increased its position in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after purchasing an additional 201,294 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after purchasing an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after buying an additional 6,605 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PM. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays reduced their price target 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. raised their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley initiated 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 for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Stock Up 0.6 %

PM stock opened at $130.32 on Friday. The firm has a market cap of $202.63 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.29 and a beta of 0.54. The company’s fifty day simple moving average is $125.24 and its 200 day simple moving average is $122.63. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.14%. Philip Morris International’s payout ratio 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.