Cannon Wealth Management Services LLC Increases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Cannon Wealth Management Services LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,856 shares of the company’s stock after purchasing an additional 132 shares during the period. Cannon Wealth Management Services LLC’s holdings in Philip Morris International were worth $242,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. White Lighthouse Investment Management Inc. grew its position in shares of Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after acquiring an additional 4,999 shares during the last quarter. Range Financial Group LLC grew its position in shares of Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after acquiring an additional 19,127 shares during the last quarter. Accredited Investors Inc. grew its position in shares of Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock worth $25,125,000 after acquiring an additional 201,294 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of Philip Morris International by 18.9% during the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after acquiring an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its position in shares of Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after acquiring an additional 6,605 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of research reports. UBS Group raised their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, 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 report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.22.

Insider Buying and Selling

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now owns 20,799 shares of the company’s stock, valued at $3,117,354.12. This represents a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares of the company’s stock, valued at approximately $83,674,681.94. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,143 shares of company stock worth $19,092,846 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $154.39 on Monday. The firm has a market capitalization of $240.05 billion, a P/E ratio of 34.23, a PEG ratio of 2.65 and a beta of 0.55. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $154.64. The company’s fifty day moving average is $129.81 and its two-hundred day moving average is $126.52.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date was Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 3.50%. Philip Morris International’s dividend payout ratio is presently 119.73%.

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.