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

TD Asset Management Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 808,889 shares of the company’s stock after selling 2,797 shares during the period. TD Asset Management Inc. owned approximately 0.05% of Philip Morris International worth $97,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of 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. GQG Partners LLC raised its position in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Philip Morris International during the fourth quarter worth $522,214,000. Bank of New York Mellon Corp boosted its holdings in shares of Philip Morris International by 21.0% in the 4th quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company’s stock valued at $1,934,083,000 after purchasing an additional 2,785,987 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.5 %

Shares of PM stock opened at $152.37 on Wednesday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $159.51. The stock has a market cap of $236.91 billion, a price-to-earnings ratio of 33.78, a PEG ratio of 2.65 and a beta of 0.53. The stock has a 50-day moving average of $143.74 and a 200-day moving average of $131.59.

Philip Morris International (NYSE:PM) last released its earnings results 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%. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

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

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. The trade was a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the firm’s 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 completion of the sale, the senior vice president now owns 30,308 shares of the company’s stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,822 shares of company stock valued at $19,655,585. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PM shares. Stifel Nicolaus raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley initiated coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target on the stock. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. UBS Group boosted their target price on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their price target on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.