Canoe Financial LP Sells 7,796 Shares of Philip Morris International Inc. (NYSE:PM)

Canoe Financial LP lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund 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 investment portfolio, making the stock its 13th largest holding. Canoe Financial LP’s holdings in Philip Morris International were worth $149,917,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in Philip Morris International by 24.5% during the 2nd quarter. American Century Companies Inc. now owns 8,701 shares of the company’s stock worth $882,000 after purchasing an additional 1,715 shares during the last quarter. Blair William & Co. IL grew its position in shares of Philip Morris International by 6.0% during the 2nd quarter. Blair William & Co. IL now owns 150,362 shares of the company’s stock worth $15,236,000 after buying an additional 8,526 shares during the period. Brighton Jones LLC raised its stake in shares of Philip Morris International by 3.8% during the second quarter. Brighton Jones LLC now owns 6,866 shares of the company’s stock worth $696,000 after buying an additional 249 shares during the last quarter. Ieq Capital LLC lifted its holdings in Philip Morris International by 10.3% in the second quarter. Ieq Capital LLC now owns 50,310 shares of the company’s stock valued at $5,098,000 after buying an additional 4,692 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in Philip Morris International by 48.5% in the second quarter. Benjamin Edwards Inc. now owns 10,249 shares of the company’s stock valued at $1,039,000 after acquiring an additional 3,346 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

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

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Barclays dropped their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. UBS Group upped their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Stock Up 1.7 %

Shares of PM stock opened at $121.88 on Friday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15. The firm has a fifty day moving average of $125.59 and a 200-day moving average of $121.05. The company has a market capitalization 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 released its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.