Confluence Wealth Services Inc. Has $1.74 Million Position in Philip Morris International Inc. (NYSE:PM)

Confluence Wealth Services Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 6.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,833 shares of the company’s stock after selling 932 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Philip Morris International were worth $1,735,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PM. State Street Corp lifted its stake in shares of Philip Morris International by 0.4% in the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after purchasing an additional 224,840 shares during the last quarter. Geode Capital Management LLC raised its holdings in Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after buying an additional 621,034 shares in the last quarter. FMR LLC lifted its position in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after acquiring an additional 376,406 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $1,121,932,000 after acquiring an additional 3,363,454 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PM shares. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted 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. UBS Group raised their target price 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. 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, Citigroup raised their price target 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Trading Up 0.0 %

Shares of NYSE:PM opened at $130.42 on Wednesday. The business’s 50 day moving average is $125.18 and its 200-day moving average is $123.41. The firm has a market capitalization of $202.78 billion, a PE ratio of 20.70, a PEG ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 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.