Glenview State Bank Trust DEPT. Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Glenview State Bank Trust DEPT. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 2.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,742 shares of the company’s stock after selling 250 shares during the period. Glenview State Bank Trust DEPT.’s holdings in Philip Morris International were worth $687,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Montag A & Associates Inc. grew its stake in shares of Philip Morris International by 0.6% during the 1st quarter. Montag A & Associates Inc. now owns 18,782 shares of the company’s stock valued at $1,660,000 after acquiring an additional 120 shares during the period. NBT Bank N A NY grew its stake in shares of Philip Morris International by 0.3% during the 1st quarter. NBT Bank N A NY now owns 41,531 shares of the company’s stock valued at $3,671,000 after acquiring an additional 120 shares during the period. Brand Asset Management Group Inc. grew its stake in shares of Philip Morris International by 34.9% during the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after acquiring an additional 122 shares during the period. OLD Point Trust & Financial Services N A grew its stake in shares of Philip Morris International by 0.8% during the 1st quarter. OLD Point Trust & Financial Services N A now owns 15,397 shares of the company’s stock valued at $1,361,000 after acquiring an additional 125 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Philip Morris International by 4.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 3,283 shares of the company’s stock valued at $290,000 after acquiring an additional 128 shares during the period. 73.48% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on PM shares. Morgan Stanley cut their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $100.00 in a research note on Friday, July 19th. Finally, Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $93.92.

In other news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Kunst acquired 500 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $80.74 per share, for a total transaction of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

PM stock opened at $81.32 on Wednesday. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The company has a market cap of $130.96 billion, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The business has a 50 day simple moving average of $81.85.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same period in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, sell-side analysts expect that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st were issued a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 annualized dividend and a dividend yield of 5.61%. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

Further Reading: What can cause a stock to outperform?

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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