Choreo LLC Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

Choreo LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 157.0% in the 4th quarter, HoldingsChannel reports. The firm owned 130,873 shares of the company’s stock after acquiring an additional 79,959 shares during the quarter. Choreo LLC’s holdings in Philip Morris International were worth $15,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PM. FMR LLC grew its holdings in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Philip Morris International by 57.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares during the last quarter. National Bank of Canada FI raised its position in Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after buying an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Philip Morris International by 14,611.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after buying an additional 1,165,554 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Philip Morris International by 13,666.6% during the 3rd quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock worth $121,367,000 after buying an additional 992,467 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective for the company. Barclays lowered their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group raised their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. 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 PM stock opened at $130.42 on Wednesday. The firm has a market cap of $202.78 billion, a P/E ratio of 20.70, a PEG 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. The firm’s 50-day simple moving average is $125.18 and its 200-day simple moving average is $123.41.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued 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 currently 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.