Busey Bank Buys 4,229 Shares of Philip Morris International Inc. (NYSE:PM)

Busey Bank increased its position in Philip Morris International Inc. (NYSE:PM) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 194,038 shares of the company’s stock after purchasing an additional 4,229 shares during the quarter. Busey Bank’s holdings in Philip Morris International were worth $23,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its holdings 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. Massachusetts Financial Services Co. MA increased its holdings in Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Philip Morris International by 14,611.4% in the third quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Philip Morris International by 13,666.6% during the third quarter. International Assets Investment Management LLC now owns 999,729 shares of the company’s stock valued at $121,367,000 after buying an additional 992,467 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $129.62 on Thursday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The stock has a market cap of $201.53 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The stock has a fifty day moving average of $125.26 and a 200-day moving average of $122.59.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PM shares. Stifel Nicolaus restated a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Finally, Barclays lowered their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $131.35.

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.