Philip Morris International Inc. $PM Shares Purchased by Canoe Financial LP

Canoe Financial LP grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 57.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,015,591 shares of the company’s stock after acquiring an additional 369,652 shares during the quarter. Philip Morris International comprises 2.4% of Canoe Financial LP’s portfolio, making the stock its 12th biggest position. Canoe Financial LP owned about 0.07% of Philip Morris International worth $164,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Clayton Financial Group LLC purchased a new position in Philip Morris International in the third quarter valued at approximately $202,000. Gemmer Asset Management LLC increased its position in shares of Philip Morris International by 4.1% in the third quarter. Gemmer Asset Management LLC now owns 1,877 shares of the company’s stock worth $304,000 after acquiring an additional 74 shares in the last quarter. Iams Wealth Management LLC increased its position in shares of Philip Morris International by 178.1% in the third quarter. Iams Wealth Management LLC now owns 3,201 shares of the company’s stock worth $519,000 after acquiring an additional 2,050 shares in the last quarter. Bar Harbor Wealth Management raised its stake in shares of Philip Morris International by 11.0% in the 3rd quarter. Bar Harbor Wealth Management now owns 10,226 shares of the company’s stock valued at $1,659,000 after acquiring an additional 1,017 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Philip Morris International by 2.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,948 shares of the company’s stock valued at $3,884,000 after acquiring an additional 636 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE:PM opened at $162.78 on Friday. The stock has a market cap of $253.38 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.42. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The business’s 50-day simple moving average is $154.09 and its 200 day simple moving average is $164.04.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion during the quarter. On average, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

Analyst Upgrades and Downgrades

PM has been the subject of several recent research reports. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.00.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.