Cornerstone Wealth Group LLC Buys 530 Shares of Philip Morris International Inc. (NYSE:PM)

Cornerstone Wealth Group LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,136 shares of the company’s stock after purchasing an additional 530 shares during the period. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $4,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. White Lighthouse Investment Management Inc. grew its holdings in shares of Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after buying an additional 4,999 shares in the last quarter. Range Financial Group LLC grew its stake in shares of Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after acquiring an additional 19,127 shares in the last quarter. Accredited Investors Inc. raised its holdings in shares of Philip Morris International by 3,553.3% in the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Philip Morris International by 18.9% in the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after purchasing an additional 16,035 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. UBS Group upped their target price 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 boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One 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. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International Trading Up 1.5 %

PM opened at $127.28 on Monday. The stock’s fifty day simple moving average is $125.30 and its 200 day simple moving average is $122.11. 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 cap of $197.89 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The business also recently announced 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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

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.