Philip Morris International Inc. (NYSE:PM) Stock Position Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,341,104 shares of the company's stock after purchasing an additional 187,041 shares during the quarter. Mackenzie Financial Corp owned about 0.21% of Philip Morris International worth $402,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% during the fourth 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. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International during the fourth quarter valued at approximately $33,000. Knuff & Co LLC purchased a new stake in Philip Morris International during the fourth quarter worth approximately $36,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth $36,000. Finally, Sierra Ocean LLC purchased a new position in shares of Philip Morris International in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PM shares. Needham & Company LLC started coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Finally, Barclays boosted their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.20.

Philip Morris International Trading Up 0.6%

PM stock traded up $1.04 during midday trading on Tuesday, hitting $179.23. 5,847,071 shares of the company's stock were exchanged, compared to its average volume of 5,611,928. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $179.79. The firm has a 50 day moving average price of $163.08 and a 200-day moving average price of $144.39. The stock has a market capitalization of $278.97 billion, a price-to-earnings ratio of 39.74, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. Philip Morris International's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 EPS. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio is currently 111.34%.

Insider Activity at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company's stock.

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.