Philip Morris International Inc. $PM Position Trimmed by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 77.3% during the third quarter, HoldingsChannel reports. 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Second Line Capital LLC grew its holdings in shares of Philip Morris International by 4.8% during the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after purchasing an additional 61 shares during the last quarter. Meridian Wealth Partners LLC boosted its position in Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after purchasing an additional 62 shares during the period. Bernardo Wealth Planning LLC grew its stake in Philip Morris International by 1.8% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock worth $653,000 after buying an additional 62 shares during the last quarter. Raiffeisen Bank International AG increased its position in Philip Morris International by 1.4% in the second quarter. Raiffeisen Bank International AG now owns 4,471 shares of the company’s stock worth $803,000 after buying an additional 63 shares during the period. Finally, Nia Impact Advisors LLC lifted its stake in Philip Morris International by 4.2% in the second quarter. Nia Impact Advisors LLC now owns 1,577 shares of the company’s stock valued at $287,000 after buying an additional 63 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.9%

Shares of NYSE:PM opened at $179.42 on Friday. The company has a 50 day moving average of $161.53 and a 200-day moving average of $161.56. The firm has a market cap of $279.29 billion, a P/E ratio of 32.50, a P/E/G ratio of 1.92 and a beta of 0.40. Philip Morris International Inc. has a twelve month low of $128.25 and a twelve month high of $186.69.

Philip Morris International Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PM shares. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Barclays dropped their price target on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group lowered Philip Morris International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $220.00 to $180.00 in a report on Tuesday, January 20th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Profile

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.