CIBC Asset Management Inc Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

CIBC Asset Management Inc lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,454 shares of the company’s stock after selling 50,574 shares during the quarter. CIBC Asset Management Inc’s holdings in Philip Morris International were worth $35,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valley Wealth Managers Inc. boosted 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 raised 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 valued at $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International in the fourth quarter worth approximately $33,000. Concord Wealth Partners grew its holdings in Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $37,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

PM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays dropped their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.56.

Philip Morris International Trading Up 1.0 %

Shares of NYSE PM opened at $150.60 on Tuesday. The stock has a market cap of $234.16 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.55 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $151.22. The stock has a 50 day moving average of $127.47 and a two-hundred day moving average of $125.28.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. As a group, research analysts predict that Philip Morris International Inc. will post 7.11 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.59%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) 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.