CIBC Private Wealth Group LLC Sells 3,648 Shares of Philip Morris International Inc. (NYSE:PM)

CIBC Private Wealth Group LLC decreased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,071 shares of the company's stock after selling 3,648 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Philip Morris International were worth $8,783,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC grew its holdings in shares of Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Philip Morris International during the 4th quarter valued at about $522,214,000. Bank of New York Mellon Corp increased its holdings in shares of Philip Morris International by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock valued at $1,934,083,000 after purchasing an additional 2,785,987 shares during the period. National Bank of Canada FI lifted its position in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock worth $235,936,000 after purchasing an additional 1,200,636 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have weighed in on PM shares. Barclays increased their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They set an "overweight" rating and a $140.00 price objective for the company. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. UBS Group raised their price target on Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.56.

Philip Morris International Stock Up 3.9 %

PM stock traded up $6.04 during midday trading on Thursday, hitting $162.21. 10,578,322 shares of the company traded hands, compared to its average volume of 5,493,627. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $163.04. The stock has a market capitalization of $252.21 billion, a price-to-earnings ratio of 35.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The business has a 50 day simple moving average of $148.66 and a 200-day simple moving average of $133.03.

Philip Morris International (NYSE:PM - Get Free Report) last announced 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%. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is currently 119.73%.

Insiders Place Their Bets

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm's 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 sale, 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 document filed with the SEC, which is available at the SEC website. Also, insider Werner Barth sold 10,000 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the transaction, the insider now directly owns 106,244 shares of the company's stock, valued at $15,795,295.48. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock valued at $19,655,585 in the last three months. Company insiders own 0.13% of the company's stock.

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.