Pinnacle Financial Partners Inc Raises Stock Position in Philip Morris International Inc. (NYSE:PM)

Pinnacle Financial Partners Inc increased its stake in Philip Morris International Inc. (NYSE:PM) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,621 shares of the company’s stock after purchasing an additional 1,001 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Philip Morris International were worth $17,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. boosted its holdings in Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after purchasing an additional 4,999 shares during the last quarter. Range Financial Group LLC boosted its stake in shares of Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after acquiring an additional 19,127 shares during the last quarter. Accredited Investors Inc. boosted its stake in shares of Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after acquiring an additional 201,294 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of Philip Morris International by 18.9% during the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after acquiring an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in shares of Philip Morris International by 37.5% during the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after acquiring an additional 6,605 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $154.39 on Friday. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $154.64. The firm has a market cap of $240.05 billion, a P/E ratio of 34.23, a P/E/G ratio of 2.65 and a beta of 0.55. The firm has a 50-day simple moving average of $129.81 and a 200-day simple moving average of $126.36.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 3.50%. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Insider Buying and Selling

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jacek Olczak sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total transaction of $5,954,800.00. Following the transaction, the chief executive officer now owns 547,426 shares in the company, valued at $81,495,308.62. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,143 shares of company stock worth $19,092,846 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays reduced their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group lifted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $141.22.

Philip Morris International Company 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.