Cibc World Markets Corp Raises Position in Philip Morris International Inc. (NYSE:PM)

Cibc World Markets Corp boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 35.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,043 shares of the company's stock after buying an additional 122,448 shares during the period. Cibc World Markets Corp's holdings in Philip Morris International were worth $56,449,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PM. State Street Corp increased its holdings in Philip Morris International by 0.4% during the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company's stock worth $6,715,237,000 after purchasing an additional 224,840 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company's stock valued at $3,886,818,000 after buying an additional 621,034 shares during the last quarter. FMR LLC grew its holdings in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company's stock worth $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 buying an additional 2,785,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Philip Morris International by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company's stock valued at $1,615,449,000 after acquiring an additional 190,201 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, CFO Emmanuel Babeau sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.85, for a total value of $4,465,500.00. Following the sale, the chief financial officer now directly owns 139,105 shares of the company's stock, valued at $20,705,779.25. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Werner Barth sold 10,000 shares of the firm's stock in a transaction on 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 sale, the insider now owns 106,244 shares in the company, valued at approximately $15,795,295.48. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 in the last quarter. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Up 2.4 %

PM traded up $3.61 during trading hours on Monday, hitting $155.49. The stock had a trading volume of 6,679,722 shares, compared to its average volume of 5,134,946. The stock has a market cap of $241.76 billion, a PE ratio of 34.48, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 1 year low of $87.82 and a 1 year high of $159.51. The company's fifty day simple moving average is $139.79 and its 200 day simple moving average is $130.42.

Philip Morris International (NYSE:PM - Get Free Report) last released 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%. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a dividend of $1.35 per share. The ex-dividend date is Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.47%. Philip Morris International's dividend payout ratio (DPR) is 119.73%.

Analyst Ratings Changes

PM has been the topic of a number of recent analyst reports. 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 assumed coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an "overweight" rating and a $140.00 target price on the stock. Stifel Nicolaus increased their price target on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Barclays boosted their price objective on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $144.56.

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.