Philip Morris International Inc. (NYSE:PM) Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,135,513 shares of the company's stock after selling 110,161 shares during the period. Philip Morris International makes up approximately 2.9% of Canoe Financial LP's investment portfolio, making the stock its 10th largest position. Canoe Financial LP owned about 0.07% of Philip Morris International worth $180,240,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after buying an additional 91 shares during the period. Private Advisor Group LLC grew its stake in shares of Philip Morris International by 0.4% in the 4th quarter. Private Advisor Group LLC now owns 83,566 shares of the company's stock valued at $10,057,000 after buying an additional 352 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of Philip Morris International by 3.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 30,454 shares of the company's stock valued at $3,665,000 after buying an additional 1,033 shares during the period. Finally, Boston Financial Mangement LLC grew its stake in shares of Philip Morris International by 113.3% in the 4th quarter. Boston Financial Mangement LLC now owns 4,619 shares of the company's stock valued at $556,000 after buying an additional 2,453 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PM. Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Citigroup increased their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Barclays reaffirmed an "overweight" rating and set a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Down 0.0%

Shares of PM stock opened at $182.57 on Friday. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $186.69. The stock has a market capitalization of $284.18 billion, a PE ratio of 37.64, a P/E/G ratio of 2.65 and a beta of 0.52. The firm has a 50 day moving average of $173.82 and a two-hundred day moving average of $150.99.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the company posted $1.50 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. Analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.96%. Philip Morris International's dividend payout ratio is presently 111.34%.

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.

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