Bessemer Group Inc. Sells 5,705 Shares of Philip Morris International Inc. $PM

Bessemer Group Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,370,640 shares of the company’s stock after selling 5,705 shares during the quarter. Bessemer Group Inc. owned approximately 0.09% of Philip Morris International worth $222,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Second Line Capital LLC grew its stake in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock worth $245,000 after acquiring an additional 61 shares during the last quarter. Meridian Wealth Partners LLC boosted its stake in Philip Morris International by 3.1% in the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after purchasing an additional 62 shares in the last quarter. Bernardo Wealth Planning LLC grew its position in Philip Morris International by 1.8% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock valued at $653,000 after purchasing an additional 62 shares during the last quarter. Raiffeisen Bank International AG grew its position in Philip Morris International by 1.4% during the 2nd quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock valued at $803,000 after purchasing an additional 63 shares during the last quarter. Finally, Nia Impact Advisors LLC increased its stake in Philip Morris International by 4.2% during the 2nd quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock valued at $287,000 after purchasing an additional 63 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

PM stock opened at $180.22 on Thursday. Philip Morris International Inc. has a 1 year low of $130.31 and a 1 year high of $186.69. The company has a market cap of $280.54 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.39. The stock’s fifty day moving average price is $162.98 and its 200-day moving average price is $161.39.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is currently 106.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PM shares. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $184.56.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.