Philip Morris International Inc. (NYSE:PM) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. trimmed its position in Philip Morris International Inc. (NYSE:PM) by 23.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 270,669 shares of the company’s stock after selling 84,463 shares during the period. Cibc World Market Inc.’s holdings in Philip Morris International were worth $32,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of 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 in the last quarter. Geode Capital Management LLC lifted its holdings 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 grew its position in Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Franklin Resources Inc. increased its stake in Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after buying an additional 376,406 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock worth $1,121,932,000 after buying an additional 3,363,454 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

PM stock opened at $130.16 on Friday. The company’s 50 day simple moving average is $125.22 and its 200-day simple moving average is $122.69. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm has a market capitalization of $202.37 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.29 and a beta of 0.54.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.15%. Philip Morris International’s payout ratio is currently 85.71%.

Analysts Set New Price Targets

A number of research firms have weighed in on PM. UBS Group upped their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Barclays cut their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $131.35.

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.