Community Trust & Investment Co. Reduces Stake in Philip Morris International Inc. (NYSE:PM)

by · The Markets Daily

Community Trust & Investment Co. lessened its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,045 shares of the company’s stock after selling 6,403 shares during the quarter. Community Trust & Investment Co.’s holdings in Philip Morris International were worth $3,526,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PM. Iron Horse Wealth Management LLC boosted its stake in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC boosted its position in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC grew its stake in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Olistico Wealth LLC purchased a new position in shares of Philip Morris International during the 2nd quarter valued at approximately $34,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Philip Morris International during the 2nd quarter valued at approximately $42,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 10.5 %

PM opened at $131.42 on Wednesday. The firm has a market capitalization of $204.30 billion, a PE ratio of 25.67, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $131.97. The firm’s 50-day moving average price is $121.68 and its 200 day moving average price is $109.12.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.11%. Philip Morris International’s payout ratio is presently 105.47%.

Analyst Ratings Changes

PM has been the topic of several analyst reports. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup raised their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. UBS Group dropped their price target on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research note on Tuesday, October 15th. Finally, Barclays upped their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Check Out Our Latest Report on Philip Morris International

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM – Free Report).