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

Community Trust & Investment Co. lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,334 shares of the company’s stock after selling 854 shares during the period. Community Trust & Investment Co.’s holdings in Philip Morris International were worth $2,961,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Morgan Stanley increased its position in shares of Philip Morris International by 1.0% in the 4th quarter. Morgan Stanley now owns 43,512,330 shares of the company’s stock worth $4,403,883,000 after purchasing an additional 411,358 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Philip Morris International by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,959,139 shares of the company’s stock valued at $3,399,777,000 after acquiring an additional 1,106,408 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Philip Morris International by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 30,296,422 shares of the company’s stock valued at $3,061,665,000 after acquiring an additional 449,971 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 5.4% in the 1st quarter. Wellington Management Group LLP now owns 21,448,722 shares of the company’s stock valued at $2,085,888,000 after acquiring an additional 1,099,430 shares during the last quarter. Finally, FMR LLC raised its stake in Philip Morris International by 8.8% during the first quarter. FMR LLC now owns 16,211,020 shares of the company’s stock worth $1,576,522,000 after acquiring an additional 1,315,656 shares during the period. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Philip Morris International Trading Down 0.1 %

Shares of PM traded down $0.11 during midday trading on Tuesday, hitting $96.85. The stock had a trading volume of 619,727 shares, compared to its average volume of 4,199,231. The firm has a market cap of $150.34 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. The business has a 50-day simple moving average of $96.49 and a two-hundred day simple moving average of $96.05. Philip Morris International Inc. has a fifty-two week low of $82.85 and a fifty-two week high of $105.62.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.50 by $0.10. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.76 billion. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. On average, analysts expect that Philip Morris International Inc. will post 6.19 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be given a dividend of $1.30 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a yield of 5.37%. Philip Morris International’s dividend payout ratio (DPR) is presently 98.26%.

Analysts Set New Price Targets

PM has been the subject of several recent research reports. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and upped their price target for the stock from $109.00 to $117.00 in a research report on Tuesday, June 20th. StockNews.com started coverage on Philip Morris International in a report on Thursday, August 17th. They issued a “hold” rating for the company. Jefferies Financial Group decreased their target price on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Finally, 22nd Century Group reiterated a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.70.

Philip Morris International Profile

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.