TD Asset Management Inc. Sells 2,797 Shares of Philip Morris International Inc. (NYSE:PM)

TD Asset Management Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.3% in the 4th quarter, HoldingsChannel reports. The fund owned 808,889 shares of the company’s stock after selling 2,797 shares during the period. TD Asset Management Inc.’s holdings in Philip Morris International were worth $97,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PM. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Dunhill Financial LLC boosted its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Philip Morris International in the 4th quarter worth about $33,000. Knuff & Co LLC bought a new stake in Philip Morris International in the 4th quarter worth about $36,000. Finally, Sierra Ocean LLC purchased a new stake in Philip Morris International in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.5 %

PM opened at $152.37 on Wednesday. The firm has a 50-day moving average price of $143.74 and a 200-day moving average price of $131.59. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.51. The company has a market capitalization of $236.91 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last released 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 net margin of 7.89% and a negative return on equity of 120.08%. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $5.40 annualized dividend and a dividend yield of 3.54%. Philip Morris International’s payout ratio is currently 119.73%.

Insider Buying and Selling

In other news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the sale, the insider now owns 106,244 shares in the company, valued at approximately $15,795,295.48. This trade represents a 8.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Yann Guerin sold 2,500 shares of Philip Morris International stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the sale, the senior vice president now directly owns 30,308 shares of the company’s stock, valued at $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 131,822 shares of company stock worth $19,655,585. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the topic of a number of research analyst reports. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. Stifel Nicolaus lifted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. UBS Group increased their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Finally, 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. One research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.56.

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.