Cannon Wealth Management Services LLC Grows Stock Position in Philip Morris International Inc. (NYSE:PM)

Cannon Wealth Management Services LLC boosted its stake in Philip Morris International Inc. (NYSE:PM) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,856 shares of the company’s stock after buying an additional 132 shares during the quarter. Cannon Wealth Management Services LLC’s holdings in Philip Morris International were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after buying an additional 3,363,454 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Philip Morris International by 161.6% during the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after buying an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Philip Morris International by 14,611.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after buying an additional 1,165,554 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Philip Morris International by 44.0% during the 3rd quarter. Bank of Montreal Can now owns 3,170,549 shares of the company’s stock valued at $382,432,000 after acquiring an additional 969,198 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now owns 20,799 shares of the company’s stock, valued at $3,117,354.12. This trade represents a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the transaction, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at $4,584,994.24. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,143 shares of company stock valued at $19,092,846. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target 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. Stifel Nicolaus upped 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 dropped their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $141.22.

Philip Morris International Price Performance

Shares of NYSE PM opened at $154.39 on Monday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $154.64. The business’s fifty day moving average price is $129.81 and its two-hundred day moving average price is $126.52. The firm has a market capitalization of $240.05 billion, a PE ratio of 34.23, a P/E/G ratio of 2.65 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating 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 7.89%. Equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 119.73%.

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.