Grimes & Company Inc. Buys 251 Shares of Philip Morris International Inc. (NYSE:PM)

Grimes & Company Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,472 shares of the company’s stock after acquiring an additional 251 shares during the period. Grimes & Company Inc.’s holdings in Philip Morris International were worth $659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. American Century Companies Inc. increased its position in shares of Philip Morris International by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 8,701 shares of the company’s stock valued at $882,000 after purchasing an additional 1,715 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Philip Morris International by 29.4% during the 2nd quarter. AQR Capital Management LLC now owns 322,043 shares of the company’s stock valued at $32,571,000 after purchasing an additional 73,234 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of Philip Morris International by 79.9% during the 2nd quarter. Kathmere Capital Management LLC now owns 8,695 shares of the company’s stock valued at $881,000 after purchasing an additional 3,862 shares during the last quarter. Ascent Group LLC increased its position in shares of Philip Morris International by 3.2% during the 2nd quarter. Ascent Group LLC now owns 46,706 shares of the company’s stock valued at $4,733,000 after purchasing an additional 1,463 shares during the last quarter. Finally, Forefront Analytics LLC purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at about $278,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM opened at $127.28 on Friday. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $134.15. The company has a 50 day simple moving average of $125.30 and a two-hundred day simple moving average of $121.97. The firm has a market cap of $197.89 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.24%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Analysts Set New Price Targets

PM has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley initiated coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price for the company. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Barclays reduced their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. One equities 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.35.

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.