Intrust Bank NA Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Intrust Bank NA cut its position in Philip Morris International Inc. (NYSE:PM) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 19,861 shares of the company’s stock after selling 403 shares during the quarter. Intrust Bank NA’s holdings in Philip Morris International were worth $1,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in Philip Morris International by 33.5% in the third quarter. Invesco Ltd. now owns 17,147,790 shares of the company’s stock valued at $1,587,542,000 after buying an additional 4,304,089 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 12.6% in the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock valued at $2,575,742,000 after acquiring an additional 3,121,732 shares during the last quarter. Boston Partners increased its stake in Philip Morris International by 38.5% in the third quarter. Boston Partners now owns 4,940,922 shares of the company’s stock valued at $456,368,000 after purchasing an additional 1,372,520 shares during the last quarter. London Co. of Virginia raised its holdings in Philip Morris International by 52.2% during the third quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock worth $287,956,000 after purchasing an additional 1,066,871 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Philip Morris International by 24.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,841,714 shares of the company’s stock worth $448,246,000 after buying an additional 958,894 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Philip Morris International stock traded down $0.87 during midday trading on Tuesday, reaching $94.73. The company’s stock had a trading volume of 438,387 shares, compared to its average volume of 5,676,906. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $100.79. The firm has a market capitalization of $147.26 billion, a PE ratio of 18.53, a P/E/G ratio of 2.01 and a beta of 0.61. The stock’s 50 day simple moving average is $92.02 and its 200 day simple moving average is $92.20.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Equities analysts predict that Philip Morris International Inc. will post 6.3 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Thursday, March 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent analyst reports. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group downgraded Philip Morris International from a “buy” rating to a “sell” rating and reduced their target price for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price for the company in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Hold” and a consensus target price of $105.50.

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, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares in the company, valued at $17,205,859.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the sale, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Werner Barth sold 5,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $91.46, for a total value of $457,300.00. Following the completion of the transaction, the insider now owns 102,918 shares of the company’s stock, valued at $9,412,880.28. The disclosure for this sale can be found here. Insiders have sold 35,250 shares of company stock worth $3,339,528 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Company 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.