Philip Morris dissected after Q4 print

• Philip Morris International (PM -1.3%) is down for the day, although ahead of tobacco peers, after a largely in-line Q4 report.
• As always, capital allocation is a key question with the company.
• SA contributor Bill Maurer weighs in: "Lower earnings will hurt cash flow, and a rising share count won't allow for as much of a dividend raise."
• PM yields 4.60% at today's share price.
• Previously: Philip Morris lower after earnings (Feb. 4)