Philip Morris International Inc. (NYSE:PM) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,500 shares of the company’s stock after selling 65,400 shares during the period. Intact Investment Management Inc.’s holdings in Philip Morris International were worth $18,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. NewSquare Capital LLC grew its position in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after buying an additional 72 shares during the last quarter. Balboa Wealth Partners grew its position in Philip Morris International by 2.0% in the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after buying an additional 74 shares during the last quarter. Investment Advisory Services Inc. TX ADV grew its position in Philip Morris International by 3.2% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 2,510 shares of the company’s stock worth $302,000 after buying an additional 78 shares during the last quarter. Net Worth Advisory Group grew its position in Philip Morris International by 1.2% in the fourth quarter. Net Worth Advisory Group now owns 6,625 shares of the company’s stock worth $797,000 after buying an additional 79 shares during the last quarter. Finally, Intergy Private Wealth LLC grew its position in Philip Morris International by 4.3% in the fourth quarter. Intergy Private Wealth LLC now owns 1,959 shares of the company’s stock worth $236,000 after buying an additional 80 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PM. Barclays lifted their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Morgan Stanley began coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective on the stock. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

Philip Morris International Stock Down 0.7 %

NYSE:PM opened at $150.32 on Friday. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $159.51. The firm has a market capitalization of $233.72 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. The firm has a 50-day moving average price of $138.50 and a 200 day moving average price of $129.87.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data 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%. On average, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors 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 3.59%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Insider Activity at Philip Morris International

In other news, CEO Jacek Olczak sold 40,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.87, for a total value of $5,954,800.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the completion of the transaction, the chairman now directly owns 561,349 shares of the company’s stock, valued at $83,674,681.94. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.