Philip Morris International Inc. (NYSE:PM) Position Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 76.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,242 shares of the company’s stock after selling 14,011 shares during the period. Manning & Napier Advisors LLC’s holdings in Philip Morris International were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. 49 Wealth Management LLC boosted its position in shares of Philip Morris International by 3.6% during the 3rd quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock valued at $295,000 after purchasing an additional 84 shares in the last quarter. Woodmont Investment Counsel LLC boosted its holdings in shares of Philip Morris International by 1.6% in the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after buying an additional 86 shares during the period. YHB Investment Advisors Inc. boosted its holdings in shares of Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after buying an additional 87 shares during the period. Cypress Wealth Services LLC boosted its holdings in shares of Philip Morris International by 1.3% in the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after buying an additional 89 shares during the period. Finally, Luts & Greenleigh Group Inc. boosted its holdings in shares of Philip Morris International by 1.1% in the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after buying an additional 89 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reiterated 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. Barclays reduced their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley started coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Stock Performance

Shares of PM opened at $130.32 on Friday. The firm has a market cap of $202.63 billion, a PE ratio of 20.69, a PEG ratio of 2.01 and a beta of 0.54. The firm’s 50 day moving average price is $125.24 and its 200 day moving average price is $122.63. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

Philip Morris International Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is presently 85.71%.

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.