Mackenzie Financial Corp Purchases 187,041 Shares of Philip Morris International Inc. (NYSE:PM)

Mackenzie Financial Corp raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,341,104 shares of the company's stock after purchasing an additional 187,041 shares during the period. Mackenzie Financial Corp owned 0.21% of Philip Morris International worth $402,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Philip Morris International by 23.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company's stock valued at $6,828,000 after acquiring an additional 10,703 shares during the period. Empire Life Investments Inc. boosted its position in shares of Philip Morris International by 11.6% in the fourth quarter. Empire Life Investments Inc. now owns 94,423 shares of the company's stock valued at $11,364,000 after acquiring an additional 9,789 shares during the period. Game Plan Financial Advisors LLC boosted its position in shares of Philip Morris International by 80.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company's stock valued at $922,000 after acquiring an additional 3,425 shares during the period. Brighton Jones LLC boosted its position in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Finally, Symmetry Investments LP bought a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $1,966,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PM shares. Barclays raised their target price 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. Needham & Company LLC started coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Citigroup raised their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.20.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $0.46 during midday trading on Wednesday, reaching $178.77. 3,284,260 shares of the company traded hands, compared to its average volume of 5,602,660. The firm has a market cap of $278.26 billion, a PE ratio of 39.64, a PEG ratio of 2.65 and a beta of 0.50. The stock's 50-day simple moving average is $163.62 and its 200-day simple moving average is $144.64. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $179.83.

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

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.02%. Philip Morris International's dividend payout ratio is 111.34%.

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.