AGF Management Ltd. Purchases 79,449 Shares of Philip Morris International Inc. (NYSE:PM)

AGF Management Ltd. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 665,329 shares of the company’s stock after purchasing an additional 79,449 shares during the quarter. AGF Management Ltd.’s holdings in Philip Morris International were worth $80,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Cooke & Bieler LP grew its holdings in shares of Philip Morris International by 2.8% in the fourth quarter. Cooke & Bieler LP now owns 1,377,121 shares of the company’s stock valued at $165,737,000 after purchasing an additional 37,292 shares in the last quarter. Avantax Planning Partners Inc. grew its stake in Philip Morris International by 8.1% in the fourth quarter. Avantax Planning Partners Inc. now owns 11,778 shares of the company’s stock valued at $1,418,000 after purchasing an additional 885 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $257,000. Cornerstone Advisors LLC boosted its position in Philip Morris International by 1.4% in the fourth quarter. Cornerstone Advisors LLC now owns 88,600 shares of the company’s stock valued at $10,663,000 after buying an additional 1,200 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in Philip Morris International by 22.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 15,592 shares of the company’s stock valued at $1,877,000 after acquiring an additional 2,870 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $150.14 on Tuesday. The stock has a market cap of $233.44 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.65 and a beta of 0.53. The firm’s 50-day simple moving average is $136.66 and its 200 day simple moving average is $129.35. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $159.51.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.60%. Philip Morris International’s payout ratio is presently 119.73%.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total value of $1,486,700.00. Following the completion of the transaction, the insider now directly owns 106,244 shares in the company, valued at $15,795,295.48. The trade was a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company’s stock, valued at $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock worth $19,655,585 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on PM shares. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Stifel Nicolaus raised their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group increased their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

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.