Coronation Fund Managers Ltd. Has $14.47 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Coronation Fund Managers Ltd. trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 17.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 120,247 shares of the company’s stock after selling 25,291 shares during the period. Coronation Fund Managers Ltd.’s holdings in Philip Morris International were worth $14,472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Valley Wealth Managers Inc. grew 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 acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC boosted its position in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners grew 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 purchasing an additional 298 shares in the last quarter. Asset Dedication LLC increased its position in Philip Morris International by 55.5% in the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock worth $50,000 after purchasing an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Philip Morris International during the 3rd quarter worth about $54,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $144.40 on Monday. The stock’s 50-day moving average is $125.66 and its 200-day moving average is $123.97. The company has a market cap of $224.51 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $146.78.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. As a group, equities analysts predict that Philip Morris International Inc. will post 7.11 EPS for the current year.

Philip Morris International Announces Dividend

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. This represents a $5.40 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 119.73%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. 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 note on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday. Stifel Nicolaus increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.35.

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.