Cidel Asset Management Inc. Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Cidel Asset Management Inc. lessened its position in Philip Morris International Inc. (NYSE:PM) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,673 shares of the company’s stock after selling 307 shares during the quarter. Cidel Asset Management Inc.’s holdings in Philip Morris International were worth $1,284,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PM. White Lighthouse Investment Management Inc. boosted its stake in Philip Morris International by 71.4% during the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock worth $1,457,000 after purchasing an additional 4,999 shares during the last quarter. Range Financial Group LLC boosted its position in Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after acquiring an additional 19,127 shares during the last quarter. Accredited Investors Inc. grew its stake in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after acquiring an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC lifted its stake in Philip Morris International by 37.5% in the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. Barclays dropped their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. UBS Group raised their target price on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday. Morgan Stanley assumed 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 target on the stock. JPMorgan Chase & Co. raised their price objective 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. Finally, Stifel Nicolaus boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.35.

Philip Morris International Stock Performance

NYSE:PM opened at $144.40 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $146.78. The company has a 50 day moving average price of $125.44 and a 200 day moving average price of $123.61. The stock has a market capitalization of $224.51 billion, a P/E ratio of 22.92, a PEG ratio of 2.30 and a beta of 0.55.

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 117.94% and a net margin of 10.35%. Research analysts forecast that Philip Morris International Inc. will post 6.5 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 3.74%. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Philip Morris International Company 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.