TD Asset Management Inc Sells 39,801 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• TD Asset Management Inc reduced its holdings in Philip Morris International by 4.9% during the first quarter, now owning 769,088 shares valued at approximately $122 million.
• Analysts from various firms have issued positive ratings on Philip Morris, with a consensus rating of "Moderate Buy" and an average target price of $186.73.
• Philip Morris recently declared a dividend of $1.35 per share, representing a 3.36% yield and a payout ratio of 102.66%.

TD Asset Management Inc trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 769,088 shares of the company's stock after selling 39,801 shares during the quarter. TD Asset Management Inc's holdings in Philip Morris International were worth $122,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PM. HB Wealth Management LLC boosted its stake in shares of Philip Morris International by 40.2% during the 1st quarter. HB Wealth Management LLC now owns 91,961 shares of the company's stock worth $14,597,000 after acquiring an additional 26,348 shares in the last quarter. GLOBALT Investments LLC GA raised its holdings in Philip Morris International by 24.8% during the first quarter. GLOBALT Investments LLC GA now owns 30,143 shares of the company's stock valued at $4,785,000 after buying an additional 5,993 shares in the last quarter. Angeles Wealth Management LLC raised its holdings in Philip Morris International by 3.4% during the first quarter. Angeles Wealth Management LLC now owns 6,751 shares of the company's stock valued at $1,072,000 after buying an additional 225 shares in the last quarter. Benedict Financial Advisors Inc. raised its holdings in Philip Morris International by 1.0% during the first quarter. Benedict Financial Advisors Inc. now owns 72,813 shares of the company's stock valued at $11,558,000 after buying an additional 724 shares in the last quarter. Finally, Phoenix Financial Ltd. raised its holdings in Philip Morris International by 4.0% during the first quarter. Phoenix Financial Ltd. now owns 19,778 shares of the company's stock valued at $3,151,000 after buying an additional 758 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM traded down $0.01 during trading on Wednesday, reaching $162.74. 3,102,481 shares of the company traded hands, compared to its average volume of 6,106,107. The stock's 50 day moving average price is $178.32 and its two-hundred day moving average price is $160.97. The company has a market cap of $253.32 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 2.30 and a beta of 0.51. Philip Morris International Inc. has a 1-year low of $113.15 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Analyst Ratings Changes

Several equities analysts have weighed in on PM shares. Bank of America raised their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. UBS Group raised their price target on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Barclays lowered their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

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.