Philip Morris International Inc. (NYSE:PM) Position Decreased by Canal Capital Management LLC

Canal Capital Management LLC lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,945 shares of the company's stock after selling 4,690 shares during the period. Philip Morris International accounts for about 2.0% of Canal Capital Management LLC's holdings, making the stock its 10th largest holding. Canal Capital Management LLC's holdings in Philip Morris International were worth $12,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meridian Wealth Partners LLC grew its holdings in Philip Morris International by 4.1% during the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after acquiring an additional 70 shares in the last quarter. NewSquare Capital LLC grew its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Philip Morris International by 2.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after purchasing an additional 73 shares in the last quarter. Balboa Wealth Partners raised its stake in Philip Morris International by 2.0% in the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company's stock valued at $447,000 after buying an additional 74 shares in the last quarter. Finally, Cravens & Co Advisors LLC lifted its holdings in Philip Morris International by 0.7% during the 4th quarter. Cravens & Co Advisors LLC now owns 10,052 shares of the company's stock worth $1,210,000 after buying an additional 74 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Insiders Place Their Bets

In other news, SVP Yann Guerin sold 2,500 shares of the business'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 completion of the transaction, the senior vice president now directly owns 30,308 shares of the company's stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PM shares. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday. Barclays upped their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Citigroup lifted their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Morgan Stanley restated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday. Finally, UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $170.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.00.

Philip Morris International Price Performance

Shares of PM stock traded up $0.12 during midday trading on Friday, hitting $170.19. The company had a trading volume of 7,755,677 shares, compared to its average volume of 5,558,675. Philip Morris International Inc. has a 52-week low of $94.42 and a 52-week high of $171.63. The company's 50 day simple moving average is $155.51 and its 200 day simple moving average is $137.57. The stock has a market cap of $264.90 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the previous year, the company posted $1.50 EPS. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.17%. Philip Morris International's dividend payout ratio is presently 111.34%.

Philip Morris International Company 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.