CIBC Asset Management Inc Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

CIBC Asset Management Inc lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 296,454 shares of the company’s stock after selling 50,574 shares during the quarter. CIBC Asset Management Inc’s holdings in Philip Morris International were worth $35,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PM. Nicholas Hoffman & Company LLC. raised its position in shares of Philip Morris International by 1.2% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 17,153 shares of the company’s stock worth $2,064,000 after purchasing an additional 206 shares during the last quarter. Americana Partners LLC raised its holdings in shares of Philip Morris International by 2,523.2% in the fourth quarter. Americana Partners LLC now owns 153,013 shares of the company’s stock worth $18,415,000 after acquiring an additional 147,180 shares during the last quarter. Strategic Advisors LLC raised its holdings in shares of Philip Morris International by 4.9% in the fourth quarter. Strategic Advisors LLC now owns 4,292 shares of the company’s stock worth $517,000 after acquiring an additional 200 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at $37,000. Finally, Keystone Financial Services boosted its stake in shares of Philip Morris International by 3.5% during the fourth quarter. Keystone Financial Services now owns 10,783 shares of the company’s stock valued at $1,298,000 after acquiring an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.0 %

Shares of PM opened at $150.60 on Tuesday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $151.22. The firm has a market capitalization of $234.16 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55. The stock’s fifty day simple moving average is $127.47 and its 200 day simple moving average is $125.28.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. Sell-side analysts predict that Philip Morris International Inc. will post 7.11 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s payout ratio is currently 119.73%.

Insider Activity

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays cut their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.56.

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.