CIBC Private Wealth Group LLC Cuts Position in Philip Morris International Inc. (NYSE:PM)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 4.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,071 shares of the company’s stock after selling 3,648 shares during the period. CIBC Private Wealth Group LLC’s holdings in Philip Morris International were worth $8,783,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PM. Meridian Wealth Partners LLC raised its stake in Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock valued at $214,000 after buying an additional 70 shares during the last quarter. NewSquare Capital LLC raised its position in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Philip Morris International by 2.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock worth $437,000 after purchasing an additional 73 shares during the last quarter. Balboa Wealth Partners boosted its stake in Philip Morris International by 2.0% in the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after purchasing an additional 74 shares in the last quarter. Finally, Centurion Wealth Management LLC grew its position in Philip Morris International by 3.5% during the 4th quarter. Centurion Wealth Management LLC now owns 2,229 shares of the company’s stock valued at $268,000 after purchasing an additional 75 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the sale, the chief executive officer now owns 547,426 shares of the company’s stock, valued at $81,495,308.62. The trade was a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Down 0.4 %

Shares of NYSE:PM opened at $158.08 on Wednesday. The firm’s 50 day moving average price is $147.25 and its 200-day moving average price is $132.66. The stock has a market capitalization of $245.79 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.51.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s payout ratio is 119.73%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. Stifel Nicolaus increased their target price on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. increased their price objective 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. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.56.

Philip Morris International 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.