iA Global Asset Management Inc. Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

iA Global Asset Management Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,499 shares of the company’s stock after selling 32,914 shares during the period. iA Global Asset Management Inc.’s holdings in Philip Morris International were worth $29,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Philip Morris International by 0.4% in the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after purchasing an additional 224,840 shares during the period. Geode Capital Management LLC increased its stake in Philip Morris International by 2.0% in the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after purchasing an additional 621,034 shares during the period. FMR LLC increased its stake in Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the period. Bank of New York Mellon Corp increased its stake in Philip Morris International by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock worth $1,934,083,000 after purchasing an additional 2,785,987 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Philip Morris International by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,422,920 shares of the company’s stock worth $1,615,449,000 after purchasing an additional 190,201 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock opened at $154.27 on Thursday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.51. The stock’s 50-day moving average is $141.09 and its 200 day moving average is $130.80. The company has a market cap of $239.86 billion, a P/E ratio of 34.21, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.50%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio is presently 119.73%.

Insiders Place Their Bets

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 40,643 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the completion of the sale, the chairman now owns 561,349 shares of the company’s stock, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jacek Olczak sold 40,000 shares of the firm’s 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 of the company’s stock, valued at approximately $81,495,308.62. This represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PM. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. UBS Group raised their price target on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. 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 research note on Friday, February 7th. Finally, Morgan Stanley started coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.