1ST Source Bank Raises Stock Holdings in Philip Morris International Inc. (NYSE:PM)

1ST Source Bank boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,988 shares of the company’s stock after purchasing an additional 246 shares during the quarter. 1ST Source Bank’s holdings in Philip Morris International were worth $360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. TCTC Holdings LLC boosted its position in Philip Morris International by 0.4% during the fourth quarter. TCTC Holdings LLC now owns 180,520 shares of the company’s stock worth $21,726,000 after purchasing an additional 669 shares in the last quarter. Signaturefd LLC boosted its position in Philip Morris International by 11.1% during the fourth quarter. Signaturefd LLC now owns 26,079 shares of the company’s stock worth $3,139,000 after purchasing an additional 2,599 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Philip Morris International by 27.2% in the fourth quarter. Parallel Advisors LLC now owns 18,942 shares of the company’s stock valued at $2,280,000 after acquiring an additional 4,046 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Philip Morris International by 35.3% in the fourth quarter. Cibc World Markets Corp now owns 469,043 shares of the company’s stock valued at $56,449,000 after acquiring an additional 122,448 shares in the last quarter. Finally, Gray Wealth Management Inc. lifted its position in shares of Philip Morris International by 2.3% in the fourth quarter. Gray Wealth Management Inc. now owns 4,314 shares of the company’s stock valued at $519,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insiders Place Their Bets

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 over the last quarter. 0.13% of the stock is owned by insiders.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $155.49 on Tuesday. The business’s 50 day moving average price is $139.79 and its 200 day moving average price is $130.42. The company has a market cap of $241.76 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $159.51.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.47%. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Finally, Stifel Nicolaus lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Company Profile

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.