Intact Investment Management Inc. lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the company’s stock after selling 300 shares during the period. Intact Investment Management Inc.’s holdings in Philip Morris International were worth $1,025,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Stuart Chaussee & Associates Inc. increased its stake in shares of Philip Morris International by 7.7% in the third quarter. Stuart Chaussee & Associates Inc. now owns 11,960 shares of the company’s stock worth $1,163,000 after buying an additional 850 shares during the period. Liberty Capital Management Inc. acquired a new stake in shares of Philip Morris International during the third quarter worth about $116,000. Independence Advisors LLC increased its stake in shares of Philip Morris International by 9.4% in the third quarter. Independence Advisors LLC now owns 2,268 shares of the company’s stock worth $220,000 after buying an additional 195 shares during the period. Stokes & Hubbell Capital Management LLC increased its stake in shares of Philip Morris International by 1.0% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 65,104 shares of the company’s stock worth $6,329,000 after buying an additional 674 shares during the period. Finally, Sadoff Investment Management LLC increased its stake in shares of Philip Morris International by 2.9% in the third quarter. Sadoff Investment Management LLC now owns 5,658 shares of the company’s stock worth $550,000 after buying an additional 158 shares during the period. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Shares of Philip Morris International Inc. (NYSE:PM) traded down 0.33% during mid-day trading on Friday, reaching $109.62. The company’s stock had a trading volume of 4,695,723 shares. Philip Morris International Inc. has a 12-month low of $86.78 and a 12-month high of $115.63. The firm has a market cap of $170.06 billion, a P/E ratio of 24.47 and a beta of 0.94. The firm’s 50-day moving average price is $112.39 and its 200 day moving average price is $99.42. Philip Morris International also was the recipient of unusually large options trading on Thursday. Stock investors purchased 1,051 put options on the stock. This represents an increase of 487% compared to the typical volume of 179 put options.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Thursday, March 23rd were given a dividend of $1.04 per share. The ex-dividend date was Tuesday, March 21st. This represents a $4.16 annualized dividend and a dividend yield of 3.79%. Philip Morris International’s dividend payout ratio is currently 92.86%.
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PM has been the subject of a number of recent research reports. Vetr downgraded Philip Morris International from a “strong-buy” rating to a “buy” rating and set a $98.02 target price for the company. in a research report on Monday, January 2nd. Bank of America Corp downgraded Philip Morris International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $96.00 in a research report on Wednesday, January 4th. Goldman Sachs Group Inc restated a “buy” rating and issued a $102.00 target price (down previously from $109.00) on shares of Philip Morris International in a research report on Tuesday, January 10th. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Finally, Citigroup Inc reiterated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $113.15.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 35,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $102.65, for a total value of $3,592,750.00. Following the completion of the sale, the chief executive officer now directly owns 787,671 shares of the company’s stock, valued at approximately $80,854,428.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
