Cibc World Markets Corp Buys 122,448 Shares of Philip Morris International Inc. (NYSE:PM)

Cibc World Markets Corp raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 469,043 shares of the company’s stock after acquiring an additional 122,448 shares during the quarter. Cibc World Markets Corp’s holdings in Philip Morris International were worth $56,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. NewSquare Capital LLC raised its stake in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Creative Financial Designs Inc. ADV raised its position in 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 period. Balboa Wealth Partners raised its position 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 during the period. Centurion Wealth Management LLC lifted its stake in Philip Morris International by 3.5% in the fourth quarter. Centurion Wealth Management LLC now owns 2,229 shares of the company’s stock worth $268,000 after purchasing an additional 75 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its position in shares of Philip Morris International by 3.2% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 2,510 shares of the company’s stock valued at $302,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.0 %

Shares of NYSE:PM opened at $151.95 on Monday. The firm has a 50 day moving average of $139.10 and a 200 day moving average of $130.19. The company has a market capitalization of $236.26 billion, a price-to-earnings ratio of 33.69, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $159.51.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping 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 expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Analysts Set New Price Targets

PM has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target on the stock. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of 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, UBS Group lifted their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $144.56.

Insider Transactions at Philip Morris International

In other Philip Morris International news, CEO Jacek Olczak sold 40,000 shares of the stock in a transaction dated 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 directly owns 547,426 shares in the company, valued at approximately $81,495,308.62. This trade represents a 6.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,822 shares of company stock valued at $19,655,585 in the last 90 days. Insiders own 0.13% of the company’s stock.

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.