TD Waterhouse Canada Inc. Decreases Holdings in Philip Morris International Inc. $PM

TD Waterhouse Canada Inc. reduced its stake in Philip Morris International Inc. (NYSE:PM) by 77.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,380 shares of the company’s stock after selling 76,400 shares during the period. TD Waterhouse Canada Inc.’s holdings in Philip Morris International were worth $3,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PM. Coastal Bridge Advisors LLC boosted its position in shares of Philip Morris International by 1.8% in the third quarter. Coastal Bridge Advisors LLC now owns 17,098 shares of the company’s stock worth $2,773,000 after buying an additional 303 shares during the period. Federated Hermes Inc. boosted its holdings in Philip Morris International by 12.1% in the 3rd quarter. Federated Hermes Inc. now owns 2,836,828 shares of the company’s stock worth $460,133,000 after acquiring an additional 307,307 shares during the period. Stonehage Fleming Financial Services Holdings Ltd grew its position in Philip Morris International by 165.0% in the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 10,647 shares of the company’s stock valued at $1,727,000 after acquiring an additional 6,630 shares in the last quarter. Truist Financial Corp raised its stake in shares of Philip Morris International by 1.6% during the third quarter. Truist Financial Corp now owns 2,407,416 shares of the company’s stock valued at $390,483,000 after purchasing an additional 37,767 shares during the period. Finally, Bluesphere Advisors LLC raised its stake in shares of Philip Morris International by 1.9% during the third quarter. Bluesphere Advisors LLC now owns 17,606 shares of the company’s stock valued at $2,856,000 after purchasing an additional 336 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and lowered their price target for the company from $220.00 to $180.00 in a report on Tuesday, January 20th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research report on Tuesday, October 21st. JPMorgan Chase & Co. reduced their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.56.

Philip Morris International Stock Performance

Shares of PM stock opened at $179.42 on Friday. The stock has a market capitalization of $279.29 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 1.92 and a beta of 0.40. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69. The company’s 50-day simple moving average is $161.53 and its 200-day simple moving average is $161.56.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

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.