Canoe Financial LP Sells 7,796 Shares of Philip Morris International Inc. (NYSE:PM)

Canoe Financial LP lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,245,674 shares of the company's stock after selling 7,796 shares during the quarter. Philip Morris International makes up approximately 2.2% of Canoe Financial LP's portfolio, making the stock its 13th largest holding. Canoe Financial LP owned about 0.08% of Philip Morris International worth $149,917,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 3.6% during the 3rd quarter. 49 Wealth Management LLC now owns 2,432 shares of the company's stock valued at $295,000 after buying an additional 84 shares during the last quarter. Woodmont Investment Counsel LLC lifted its holdings in Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company's stock valued at $662,000 after purchasing an additional 86 shares during the last quarter. YHB Investment Advisors Inc. lifted its holdings in Philip Morris International by 4.2% during the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company's stock valued at $262,000 after purchasing an additional 87 shares during the last quarter. Cypress Wealth Services LLC boosted its position in Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company's stock worth $819,000 after purchasing an additional 89 shares during the period. Finally, Luts & Greenleigh Group Inc. increased its stake in shares of Philip Morris International by 1.1% in the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company's stock worth $1,026,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Philip Morris International stock traded up $2.08 during mid-day trading on Friday, hitting $121.88. 5,165,969 shares of the company traded hands, compared to its average volume of 3,837,312. The stock has a fifty day moving average price of $125.50 and a 200-day moving average price of $121.33. The stock has a market cap of $189.51 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the previous year, the firm posted $1.67 EPS. The firm's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 4.43%. Philip Morris International's payout ratio is 85.71%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Stifel Nicolaus restated a "buy" rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday. They set an "overweight" rating and a $140.00 target price on the stock. Barclays reduced their price target on Philip Morris International from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.35.

Insiders Place Their Bets

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

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.