Philip Morris International Inc. (NYSE:PM) Stock Position Decreased by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in Philip Morris International Inc. (NYSE:PM) by 23.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 270,669 shares of the company’s stock after selling 84,463 shares during the quarter. Cibc World Market Inc.’s holdings in Philip Morris International were worth $32,575,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PM. Valley Wealth Managers Inc. raised its stake in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares in the last quarter. Dunhill Financial LLC raised its position in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners lifted its stake in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. Asset Dedication LLC boosted its holdings in shares of Philip Morris International by 55.5% during the 4th quarter. Asset Dedication LLC now owns 412 shares of the company’s stock worth $50,000 after buying an additional 147 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Philip Morris International in the 3rd quarter valued at $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.1 %

Shares of NYSE:PM opened at $130.16 on Friday. The firm has a market cap of $202.37 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The company’s fifty day simple moving average is $125.22 and its 200 day simple moving average is $122.69.

Philip Morris International Announces Dividend

The company also recently declared 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 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 dividend payout ratio (DPR) is 85.71%.

Analyst Ratings Changes

PM has been the subject of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. UBS Group increased their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Philip Morris International presently has an average 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.