Parsons Capital Management Inc. RI Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Parsons Capital Management Inc. RI reduced its position in Philip Morris International Inc. (NYSE:PM) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,997 shares of the company’s stock after selling 97 shares during the period. Parsons Capital Management Inc. RI’s holdings in Philip Morris International were worth $481,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. lifted its holdings in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC increased its position in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares in the last quarter. Concord Wealth Partners raised its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Philip Morris International in the third quarter worth about $54,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $54,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $129.06 on Wednesday. The firm has a fifty day moving average price of $125.27 and a 200 day moving average price of $122.42. 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 $200.66 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The company 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 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PM shares. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Barclays lowered their price target on 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 started coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International 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.