Cidel Asset Management Inc. Sells 1,050 Shares of Philip Morris International Inc. $PM

Cidel Asset Management Inc. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.8% in the second quarter, Holdings Channel.com reports. The fund owned 8,660 shares of the company’s stock after selling 1,050 shares during the period. Cidel Asset Management Inc.’s holdings in Philip Morris International were worth $1,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. WCM Investment Management LLC boosted its position in shares of Philip Morris International by 24,968.0% during the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after acquiring an additional 11,230,626 shares during the last quarter. Nuveen LLC bought a new position in shares of Philip Morris International during the first quarter worth $1,712,994,000. Wellington Management Group LLP boosted its position in shares of Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after acquiring an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after acquiring an additional 3,575,158 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after acquiring an additional 1,635,636 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup reiterated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. UBS Group lowered their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Trading Up 1.3%

Philip Morris International stock opened at $158.08 on Friday. The firm has a 50-day moving average price of $163.40 and a 200-day moving average price of $168.82. The firm has a market capitalization of $246.06 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 111.79%.

About Philip Morris International

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.