Ridgecrest Wealth Partners LLC Trims Holdings in Philip Morris International Inc. (NYSE:PM)

Ridgecrest Wealth Partners LLC lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,651 shares of the company’s stock after selling 500 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Philip Morris International were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 49 Wealth Management LLC boosted its stake in Philip Morris International by 3.6% in the 3rd quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after purchasing an additional 84 shares during the period. Woodmont Investment Counsel LLC lifted 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 in the last quarter. YHB Investment Advisors Inc. boosted its position in shares of Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after acquiring an additional 87 shares during the last quarter. Cypress Wealth Services LLC grew its stake in Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after acquiring an additional 89 shares in the last quarter. Finally, Luts & Greenleigh Group Inc. increased its holdings in Philip Morris International by 1.1% in the 3rd quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock valued at $1,026,000 after acquiring an additional 89 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Citigroup upped 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. UBS Group raised their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Finally, Barclays reduced their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.35.

Philip Morris International Stock Up 1.5 %

NYSE PM opened at $127.28 on Monday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The firm has a market capitalization of $197.89 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.01 and a beta of 0.54. The company has a fifty day moving average of $125.30 and a two-hundred day moving average of $122.25.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.24%. Philip Morris International’s payout ratio is 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.