Connor Clark & Lunn Investment Management Ltd. Has $34.30 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,979 shares of the company's stock after buying an additional 49,547 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Philip Morris International were worth $34,297,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Rakuten Securities Inc. grew its stake in Philip Morris International by 664.6% during the fourth quarter. Rakuten Securities Inc. now owns 497 shares of the company's stock worth $60,000 after buying an additional 432 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Philip Morris International by 4.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 93,715 shares of the company's stock worth $11,279,000 after acquiring an additional 4,240 shares in the last quarter. Truvestments Capital LLC grew its position in Philip Morris International by 113.8% during the 4th quarter. Truvestments Capital LLC now owns 357 shares of the company's stock worth $43,000 after acquiring an additional 190 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in Philip Morris International during the 4th quarter valued at $119,000. Finally, Hollencrest Capital Management raised its position in Philip Morris International by 2.0% in the 4th quarter. Hollencrest Capital Management now owns 120,161 shares of the company's stock valued at $14,461,000 after purchasing an additional 2,377 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several brokerages have recently commented on PM. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. UBS Group upped their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Finally, Morgan Stanley began coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus target price of $144.56.

Philip Morris International Stock Down 0.7 %

NYSE PM traded down $1.01 on Thursday, reaching $150.32. The company had a trading volume of 6,258,439 shares, compared to its average volume of 5,209,776. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51. The stock has a market cap of $233.72 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.65 and a beta of 0.53. The stock's 50 day moving average is $138.50 and its 200-day moving average is $129.87.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping 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, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

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 given a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.59%. Philip Morris International's dividend payout ratio is currently 119.73%.

Insiders Place Their Bets

In related news, CEO Jacek Olczak sold 40,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the transaction, the chief executive officer now owns 547,426 shares of the company's stock, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,822 shares of company stock worth $19,655,585. Corporate insiders own 0.13% of the company's stock.

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.