Horizon Investments LLC Buys 616 Shares of Philip Morris International Inc. (NYSE:PM)

Horizon Investments LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,335 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Horizon Investments LLC’s holdings in Philip Morris International were worth $3,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Philip Morris International by 2.0% in the 4th quarter. Advisors Asset Management Inc. now owns 125,973 shares of the company’s stock worth $15,161,000 after acquiring an additional 2,512 shares in the last quarter. BlackDiamond Wealth Management LLC grew its stake in Philip Morris International by 11.4% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 1,970 shares of the company’s stock worth $237,000 after purchasing an additional 201 shares during the period. Flagship Wealth Advisors LLC bought a new stake in Philip Morris International in the fourth quarter worth approximately $144,000. Curio Wealth LLC acquired a new position in Philip Morris International in the fourth quarter valued at approximately $48,000. Finally, 1ST Source Bank boosted its holdings in shares of Philip Morris International by 9.0% during the 4th quarter. 1ST Source Bank now owns 2,988 shares of the company’s stock worth $360,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $153.79 on Wednesday. The firm has a market capitalization of $239.12 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51. The stock has a 50 day moving average price of $140.44 and a two-hundred day moving average price of $130.64.

Philip Morris International (NYSE:PM) last announced its quarterly 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, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s payout ratio is currently 119.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PM shares. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Barclays lifted their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Morgan Stanley started coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $144.56.

Insider Buying and Selling

In related news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jacek Olczak sold 40,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the transaction, the chief executive officer now directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is owned by insiders.

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.