Philip Morris International Inc. (NYSE:PM) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 409.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,469,536 shares of the company's stock after acquiring an additional 1,181,222 shares during the quarter. Bank of Nova Scotia owned 0.09% of Philip Morris International worth $176,859,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. NewSquare Capital LLC grew its position in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the period. Dunhill Financial LLC raised its stake in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 161 shares during the period. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $33,000. Knuff & Co LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $36,000. Finally, Sierra Ocean LLC acquired a new position in Philip Morris International in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Insider Activity at Philip Morris International

In other news, SVP Yann Guerin sold 2,500 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total value of $378,200.00. Following the sale, the senior vice president now directly owns 30,308 shares in the company, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction 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. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock worth $19,655,585 over the last 90 days. Company insiders own 0.14% of the company's stock.

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Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. Stifel Nicolaus raised their price target on Philip Morris International from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. StockNews.com lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.44.

Philip Morris International Stock Performance

Philip Morris International stock traded up $2.68 during midday trading on Friday, hitting $153.85. 6,458,822 shares of the company's stock were exchanged, compared to its average volume of 5,569,399. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $163.08. The firm's 50 day simple moving average is $152.03 and its 200 day simple moving average is $134.63. The stock has a market cap of $239.47 billion, a price-to-earnings ratio of 34.11, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates 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, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.51%. The ex-dividend date was Thursday, March 20th. Philip Morris International's payout ratio is 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.