Washington Trust Bank reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,849 shares of the company’s stock after selling 1,116 shares during the quarter. Washington Trust Bank’s holdings in Philip Morris International were worth $1,009,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PM. Montag A & Associates Inc. lifted its position 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 buying an additional 120 shares in the last quarter. NBT Bank N A NY lifted its position 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 buying an additional 120 shares in the last quarter. Brand Asset Management Group Inc. lifted its holdings in Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after purchasing an additional 122 shares in the last quarter. OLD Point Trust & Financial Services N A lifted its holdings in Philip Morris International by 0.8% in the 1st quarter. OLD Point Trust & Financial Services N A now owns 15,397 shares of the company’s stock worth $1,361,000 after purchasing an additional 125 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Philip Morris International by 4.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 3,283 shares of the company’s stock worth $290,000 after purchasing an additional 128 shares in the last quarter. Institutional investors and hedge funds own 73.48% of the company’s stock.
PM has been the topic of a number of research analyst reports. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Morgan Stanley lowered their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $93.92.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The company’s revenue was down .3% compared to the same quarter last year. Analysts anticipate 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. Shareholders of record on Friday, June 21st were paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s payout ratio is 89.41%.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael R. Kunst acquired 1,000 shares of Philip Morris International stock in a transaction on Friday, May 31st. The stock was purchased at an average cost of $79.66 per share, for a total transaction of $79,660.00. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.
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.
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