SOL Capital Management CO Sells 600 Shares of Philip Morris International Inc. (NYSE:PM)

SOL Capital Management CO trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 11.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,743 shares of the company’s stock after selling 600 shares during the quarter. SOL Capital Management CO’s holdings in Philip Morris International were worth $571,000 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 made changes to their positions in PM. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Dunhill Financial LLC raised its stake in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares during the last quarter. Concord Wealth Partners lifted its holdings 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 period. Asset Dedication LLC boosted its position in Philip Morris International by 55.5% during the fourth quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after acquiring an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Philip Morris International in the 3rd quarter worth about $54,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PM has been the topic of several research analyst reports. Barclays cut their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. UBS Group lifted their price objective 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. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, 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 report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $130.16 on Friday. The firm’s 50-day simple moving average is $125.22 and its 200 day simple moving average is $122.69. The stock has a market cap of $202.37 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.29 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 business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.15%. Philip Morris International’s payout ratio is 85.71%.

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.