Philip Morris International Inc. (NYSE:PM) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,586 shares of the company’s stock after selling 1,299 shares during the quarter. Oakworth Capital Inc.’s holdings in Philip Morris International were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Foundations Investment Advisors LLC boosted its holdings in Philip Morris International by 35.3% during the third quarter. Foundations Investment Advisors LLC now owns 20,614 shares of the company’s stock worth $2,503,000 after buying an additional 5,373 shares in the last quarter. Telos Capital Management Inc. bought a new stake in Philip Morris International during the third quarter worth approximately $479,000. Ledyard National Bank boosted its holdings in Philip Morris International by 6.5% during the third quarter. Ledyard National Bank now owns 3,703 shares of the company’s stock worth $450,000 after buying an additional 227 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Philip Morris International by 26.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 179,334 shares of the company’s stock worth $21,771,000 after buying an additional 37,170 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Philip Morris International by 40.0% during the third quarter. Whittier Trust Co. now owns 334,198 shares of the company’s stock worth $40,571,000 after buying an additional 95,434 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PM shares. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Barclays raised 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 note on Monday, September 9th. One research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Philip Morris International Stock Up 6.3 %

PM stock opened at $126.50 on Tuesday. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22. The company has a market cap of $196.65 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.35 and a beta of 0.55. The company has a 50 day moving average of $121.41 and a two-hundred day moving average of $108.83.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.27%. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insiders Place Their Bets

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

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.