Pinnacle Bank Trims Stock Position in Philip Morris International Inc. (NYSE:PM)

Pinnacle Bank cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 3.9% during the second quarter, Holdings Channel.com reports. The firm owned 4,372 shares of the company’s stock after selling 177 shares during the quarter. Pinnacle Bank’s holdings in Philip Morris International were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CX Institutional raised its stake in shares of Philip Morris International by 432.1% in the 1st quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after acquiring an additional 363 shares during the period. Shamrock Asset Management LLC raised its stake in shares of Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after acquiring an additional 200 shares during the period. Claybrook Capital LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $39,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $40,000. Finally, Weaver Consulting Group purchased a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $55,000. 73.46% of the stock is currently owned by institutional investors.

Shares of PM stock traded down $0.20 during trading on Tuesday, reaching $86.75. The company’s stock had a trading volume of 4,367,876 shares, compared to its average volume of 5,465,224. The firm has a market cap of $135.37 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96. The company has a 50-day simple moving average of $79.98. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. As a group, research analysts predict that Philip Morris International Inc. will post 5.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend was Thursday, June 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.

In other Philip Morris International news, Director Louis C. Camilleri sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Kunst purchased 1,000 shares of the stock in a transaction on Friday, May 31st. The shares were purchased at an average price of $79.66 per share, with a total value of $79,660.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,000 shares of company stock valued at $331,705 in the last quarter. 0.21% of the stock is currently owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. ValuEngine cut shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. Citigroup lifted their price objective on shares of Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a report on Monday, March 25th. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Bank of America set a $120.00 price objective on shares of Walmart and gave the company a “buy” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and a consensus target price of $93.69.

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

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