First Merchants Corp Buys 9,094 Shares of Philip Morris International Inc. (NYSE:PM)

First Merchants Corp raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 46.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,748 shares of the company’s stock after buying an additional 9,094 shares during the quarter. First Merchants Corp’s holdings in Philip Morris International were worth $3,460,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. raised 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 last quarter. Dunhill Financial LLC increased its stake 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 purchasing an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International in the fourth quarter worth about $33,000. Concord Wealth Partners lifted its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of 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 buying an additional 147 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

PM stock opened at $149.27 on Friday. The business’s 50-day moving average is $126.73 and its two-hundred day moving average is $124.72. The company has a market cap of $232.08 billion, a price-to-earnings ratio of 33.10, a P/E/G ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $150.24.

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

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 119.73%.

Insider Transactions at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares of the company’s stock, valued at $3,117,354.12. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PM has been the subject of a number of recent analyst reports. Morgan Stanley began coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday. UBS Group lifted their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their target price on 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.56.

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.