Stonegate Investment Group LLC Has $1.63 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Stonegate Investment Group LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,565 shares of the company’s stock after buying an additional 694 shares during the period. Stonegate Investment Group LLC’s holdings in Philip Morris International were worth $1,633,000 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. Valley Wealth Managers Inc. raised its position in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the period. Dunhill Financial LLC increased its stake in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares in the last quarter. Concord Wealth Partners increased its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Philip Morris International in the third quarter worth $54,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Philip Morris International during the fourth quarter worth $54,000. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group increased their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays lowered their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, 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 on the stock. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Trading Up 2.3 %

NYSE:PM opened at $130.22 on Tuesday. The firm has a fifty day simple moving average of $125.30 and a 200 day simple moving average of $122.25. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The stock has a market capitalization of $202.46 billion, a PE ratio of 20.67, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid 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 4.15%. Philip Morris International’s dividend payout ratio is presently 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.