Manning & Napier Advisors LLC Sells 14,011 Shares of Philip Morris International Inc. (NYSE:PM)

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

A number of other institutional investors also recently modified their holdings of PM. Valley Wealth Managers Inc. grew its stake in shares of Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of 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 during the last quarter. Concord Wealth Partners grew its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Philip Morris International by 55.5% in the fourth quarter. Asset Dedication LLC now owns 412 shares of the company’s stock worth $50,000 after acquiring an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Philip Morris International in the third quarter worth $54,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $130.32 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company’s fifty day moving average is $125.24 and its 200-day moving average is $122.63. The company has a market capitalization of $202.63 billion, a PE ratio of 20.69, a P/E/G ratio of 2.01 and a beta of 0.54.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. 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 4.14%. Philip Morris International’s dividend payout ratio is 85.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PM shares. Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays lowered their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted 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 note on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.35.

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.