Summit Wealth Partners LLC Sells 90 Shares of Philip Morris International Inc. (NYSE:PM)

Summit Wealth Partners LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,693 shares of the company’s stock after selling 90 shares during the quarter. Summit Wealth Partners LLC’s holdings in Philip Morris International were worth $685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Intergy Private Wealth LLC boosted its position in Philip Morris International by 4.3% during the fourth quarter. Intergy Private Wealth LLC now owns 1,959 shares of the company’s stock valued at $236,000 after purchasing an additional 80 shares in the last quarter. 49 Wealth Management LLC boosted its position in Philip Morris International by 3.6% during the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $295,000 after purchasing an additional 84 shares in the last quarter. Woodmont Investment Counsel LLC boosted its position in Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock valued at $662,000 after purchasing an additional 86 shares in the last quarter. Sargent Investment Group LLC boosted its position in Philip Morris International by 2.2% during the fourth quarter. Sargent Investment Group LLC now owns 3,972 shares of the company’s stock valued at $467,000 after purchasing an additional 86 shares in the last quarter. Finally, YHB Investment Advisors Inc. boosted its position in Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of a number of research analyst reports. Barclays decreased their price target on 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. UBS Group raised their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Morgan Stanley began coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $130.91 on Thursday. The business’s 50 day moving average price is $125.18 and its 200-day moving average price is $123.41. The firm has a market capitalization of $203.54 billion, a PE ratio of 20.78, a P/E/G ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.13%. 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.