IMG Wealth Management Inc. Acquires New Shares in Philip Morris International Inc. (NYSE:PM)

IMG Wealth Management Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,560 shares of the company’s stock, valued at approximately $188,000.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of Philip Morris International by 0.4% during the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after buying an additional 224,840 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after buying an additional 621,034 shares during the last quarter. FMR LLC boosted its position in shares of Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Philip Morris International by 21.0% during the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock valued at $1,934,083,000 after buying an additional 2,785,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Philip Morris International by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company’s stock valued at $1,615,449,000 after buying an additional 190,201 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group increased their price objective on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus raised their target price 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. Barclays raised their target price on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Philip Morris International Stock Up 1.0 %

NYSE PM opened at $151.95 on Monday. The stock’s 50-day moving average price is $139.10 and its 200-day moving average price is $130.19. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51. The company has a market capitalization of $236.26 billion, a P/E ratio of 33.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 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%. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced 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. This represents a $5.40 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Insider Activity at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the sale, the vice president now owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Emmanuel Babeau sold 30,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the sale, the chief financial officer now directly owns 139,105 shares in the company, valued at $20,705,779.25. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by company insiders.

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.