Bank of Nova Scotia Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Bank of Nova Scotia boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 409.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,469,536 shares of the company’s stock after acquiring an additional 1,181,222 shares during the quarter. Bank of Nova Scotia’s holdings in Philip Morris International were worth $176,859,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PM. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. GQG Partners LLC lifted its holdings in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC boosted its position in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after buying an additional 3,185,258 shares during the period. Wellington Management Group LLP grew its stake in shares of Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock worth $2,079,262,000 after acquiring an additional 516,617 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Philip Morris International by 21.0% in the fourth 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 acquiring an additional 2,785,987 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Up 0.2 %

PM opened at $150.93 on Tuesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $163.08. The business’s 50 day moving average is $149.53 and its two-hundred day moving average is $133.57. The firm has a market cap of $234.93 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate 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%. Equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Insider Activity at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emmanuel Babeau sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $148.85, for a total transaction of $4,465,500.00. Following the transaction, the chief financial officer now owns 139,105 shares in the company, valued at approximately $20,705,779.25. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock worth $19,655,585 in the last quarter. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of several analyst reports. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group boosted their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Finally, Barclays increased their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.56.

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.