Leith Wheeler Investment Counsel Ltd. Makes New $12.20 Million Investment in Philip Morris International Inc. (NYSE:PM)

Leith Wheeler Investment Counsel Ltd. acquired a new position in Philip Morris International Inc. (NYSE:PM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 101,367 shares of the company’s stock, valued at approximately $12,200,000. Philip Morris International makes up 0.9% of Leith Wheeler Investment Counsel Ltd.’s portfolio, making the stock its 26th biggest holding.

Other large investors have also recently bought and sold shares of the company. Meridian Wealth Partners LLC boosted its holdings in shares of Philip Morris International by 4.1% in the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock valued at $214,000 after buying an additional 70 shares during the period. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Philip Morris International by 2.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock worth $437,000 after purchasing an additional 73 shares during the last quarter. Balboa Wealth Partners boosted its holdings in Philip Morris International by 2.0% during the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after purchasing an additional 74 shares during the last quarter. Finally, Cravens & Co Advisors LLC boosted its holdings in Philip Morris International by 0.7% during the fourth quarter. Cravens & Co Advisors LLC now owns 10,052 shares of the company’s stock worth $1,210,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Barclays increased their price target on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Citigroup increased their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and increased their price target for the company from $130.00 to $170.00 in a research note on Friday. Finally, StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $163.00.

Philip Morris International Price Performance

Shares of PM opened at $169.17 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $94.42 and a fifty-two week high of $171.63. The firm has a market capitalization of $263.32 billion, a PE ratio of 37.51, a PEG ratio of 2.65 and a beta of 0.46. The company’s 50-day moving average is $155.90 and its 200-day moving average is $138.16.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period last year, the firm earned $1.50 earnings per share. Philip Morris International’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s dividend payout ratio is 111.34%.

Insider Buying and Selling

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the sale, the senior vice president now owns 30,308 shares in the company, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is owned by company insiders.

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.