Franklin Resources Inc. Buys 1,248,561 Shares of Philip Morris International Inc. (NYSE:PM)

Franklin Resources Inc. raised its stake in Philip Morris International Inc. (NYSE:PM) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,249,131 shares of the company’s stock after buying an additional 1,248,561 shares during the quarter. Franklin Resources Inc.’s holdings in Philip Morris International were worth $1,714,883,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Seven Mile Advisory lifted its position in shares of Philip Morris International by 6.1% during the fourth quarter. Seven Mile Advisory now owns 2,667 shares of the company’s stock valued at $321,000 after purchasing an additional 153 shares in the last quarter. Summit Financial LLC increased its stake in Philip Morris International by 74.4% in the 4th quarter. Summit Financial LLC now owns 18,731 shares of the company’s stock valued at $2,280,000 after buying an additional 7,990 shares during the last quarter. Alliancebernstein L.P. increased its stake in Philip Morris International by 7.0% in the 4th quarter. Alliancebernstein L.P. now owns 4,712,972 shares of the company’s stock valued at $567,206,000 after buying an additional 309,960 shares during the last quarter. FSB Premier Wealth Management Inc. lifted its position in shares of Philip Morris International by 25.2% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 20,443 shares of the company’s stock worth $2,460,000 after buying an additional 4,116 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Philip Morris International by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock worth $2,079,262,000 after buying an additional 516,617 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Morgan Stanley initiated coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Finally, UBS Group lifted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Trading Up 0.1 %

Philip Morris International stock opened at $155.17 on Monday. The firm has a 50 day simple moving average of $145.83 and a 200 day simple moving average of $132.19. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.51. The firm has a market capitalization of $241.27 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.48%. Philip Morris International’s dividend payout ratio is currently 119.73%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total value of $1,486,700.00. Following the sale, the insider now directly owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the sale, the chief executive officer now owns 547,426 shares in the company, valued at $81,495,308.62. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International 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.