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Philip Morris International Inc. (NYSE:PM) Shares Sold by AGF Management Ltd.

Philip Morris International logo with Consumer Staples background

Key Points

  • AGF Management Ltd. reduced its stake in Philip Morris International Inc. by 3.7%, now holding 640,740 shares valued at approximately $101.7 million.
  • Several institutional investors increased their holdings, with Mackenzie Financial Corp boosting its stake by 7.3% and Cortland Associates Inc. MO raising it by an impressive 704% in the first quarter.
  • Philip Morris International's stock has a current market cap of $264.98 billion and recently announced a quarterly dividend of **$1.35 per share**, yielding 3.2%.
  • Looking to export and analyze Philip Morris International data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

AGF Management Ltd. lessened its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 640,740 shares of the company's stock after selling 24,589 shares during the period. AGF Management Ltd.'s holdings in Philip Morris International were worth $101,705,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Eagle Global Advisors LLC lifted its holdings in Philip Morris International by 1.2% during the 1st quarter. Eagle Global Advisors LLC now owns 168,084 shares of the company's stock worth $26,680,000 after buying an additional 1,956 shares during the last quarter. Cypress Capital Group lifted its holdings in Philip Morris International by 3.9% in the first quarter. Cypress Capital Group now owns 48,244 shares of the company's stock worth $7,658,000 after acquiring an additional 1,827 shares during the last quarter. Ballast Inc. bought a new position in Philip Morris International in the first quarter worth about $234,000. Independent Advisor Alliance lifted its holdings in Philip Morris International by 4.9% in the first quarter. Independent Advisor Alliance now owns 80,329 shares of the company's stock worth $12,751,000 after acquiring an additional 3,781 shares during the last quarter. Finally, Linscomb Wealth Inc. lifted its holdings in Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after acquiring an additional 2,669 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 1.7%

NYSE:PM traded down $2.91 during mid-day trading on Wednesday, reaching $165.69. 5,020,210 shares of the stock were exchanged, compared to its average volume of 7,072,447. The business has a fifty day moving average price of $175.47 and a 200 day moving average price of $164.05. The firm has a market capitalization of $257.91 billion, a PE ratio of 31.50, a PEG ratio of 2.45 and a beta of 0.48. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a $1.35 dividend. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's payout ratio is 102.66%.

Wall Street Analysts Forecast Growth

PM has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Citigroup restated an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Get Our Latest Stock Analysis on Philip Morris International

About Philip Morris International

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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