Wealthedge Investment Advisors LLC Purchases Shares of 2,797 Philip Morris International Inc. (NYSE:PM)

Wealthedge Investment Advisors LLC purchased a new position in Philip Morris International Inc. (NYSE:PM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,797 shares of the company's stock, valued at approximately $337,000.

A number of other large investors have also made changes to their positions in PM. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $36,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $33,000. Knuff & Co LLC purchased a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the sale, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company's stock.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $2.87 during midday trading on Friday, hitting $180.74. 8,505,072 shares of the company's stock traded hands, compared to its average volume of 5,634,442. The company has a market cap of $281.32 billion, a PE ratio of 40.08, a P/E/G ratio of 2.65 and a beta of 0.50. The firm's fifty day moving average price is $165.26 and its two-hundred day moving average price is $145.62. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $181.29.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lifted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley reissued an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.20.

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.