Canoe Financial LP Has $149.92 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Canoe Financial LP reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,245,674 shares of the company’s stock after selling 7,796 shares during the period. Philip Morris International accounts for approximately 2.2% of Canoe Financial LP’s holdings, making the stock its 13th biggest position. Canoe Financial LP owned about 0.08% of Philip Morris International worth $149,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Retirement Wealth Solutions LLC bought a new stake in Philip Morris International during the 4th quarter valued at approximately $54,000. O Keefe Stevens Advisory Inc. lifted its holdings in shares of Philip Morris International by 23.6% during the fourth quarter. O Keefe Stevens Advisory Inc. now owns 6,887 shares of the company’s stock worth $829,000 after buying an additional 1,313 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Philip Morris International by 8.2% in the fourth quarter. Brooklyn Investment Group now owns 7,377 shares of the company’s stock valued at $888,000 after acquiring an additional 562 shares during the period. Merit Financial Group LLC grew its stake in shares of Philip Morris International by 56.0% in the fourth quarter. Merit Financial Group LLC now owns 92,054 shares of the company’s stock worth $11,079,000 after acquiring an additional 33,040 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its position in Philip Morris International by 112.5% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 6,852 shares of the company’s stock worth $825,000 after acquiring an additional 3,627 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group increased their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Barclays decreased their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Price Performance

Shares of PM stock opened at $121.88 on Friday. The stock’s fifty day simple moving average is $125.59 and its 200 day simple moving average is $121.05. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a market cap of $189.51 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.86 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

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.