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

Cornerstone Wealth Group LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 39,136 shares of the company’s stock after buying an additional 530 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Philip Morris International were worth $4,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of Philip Morris International by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 8,701 shares of the company’s stock worth $882,000 after purchasing an additional 1,715 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Philip Morris International by 29.4% in the second quarter. AQR Capital Management LLC now owns 322,043 shares of the company’s stock valued at $32,571,000 after buying an additional 73,234 shares during the period. Ascent Group LLC grew its position in Philip Morris International by 3.2% during the second quarter. Ascent Group LLC now owns 46,706 shares of the company’s stock worth $4,733,000 after buying an additional 1,463 shares in the last quarter. Forefront Analytics LLC bought a new position in Philip Morris International during the 2nd quarter worth $278,000. Finally, Doheny Asset Management CA acquired a new position in Philip Morris International in the 2nd quarter valued at $754,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup increased their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased 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 note on Wednesday, October 23rd. Barclays dropped their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. 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 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Stock Performance

NYSE PM opened at $127.28 on Monday. The firm’s fifty day moving average price is $125.30 and its two-hundred day moving average price is $122.11. The stock has a market cap of $197.89 billion, a PE ratio of 20.20, a PEG ratio of 2.01 and a beta of 0.54. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.24%. Philip Morris International’s payout ratio is presently 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.