Cerro Pacific Wealth Advisors LLC Has $311,000 Holdings in Philip Morris International Inc. (NYSE:PM)

Cerro Pacific Wealth Advisors LLC lowered its stake in Philip Morris International Inc. (NYSE:PM) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,559 shares of the company’s stock after selling 372 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Philip Morris International were worth $311,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. grew its stake 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 valued at $27,000 after buying an additional 183 shares during the period. Dunhill Financial LLC boosted its holdings in Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after acquiring an additional 161 shares in the last quarter. Concord Wealth Partners grew its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after acquiring an additional 298 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Philip Morris International during the third quarter valued at approximately $54,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $54,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PM. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup boosted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Trading Up 2.0 %

Shares of PM opened at $125.36 on Friday. The stock has a 50 day moving average of $125.38 and a 200 day moving average of $121.77. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company has a market capitalization of $194.92 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.01 and a beta of 0.54.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. As a group, equities research analysts predict that Philip Morris International Inc. will post 6.5 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is 85.71%.

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.