Philip Morris International Inc. (NYSE:PM) Shares Sold by Trust Co. of Oklahoma

Trust Co. of Oklahoma cut its stake in Philip Morris International Inc. (NYSE:PM) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,261 shares of the company’s stock after selling 126 shares during the period. Trust Co. of Oklahoma’s holdings in Philip Morris International were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PM. Iron Horse Wealth Management LLC raised its holdings in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Kessler Investment Group LLC acquired a new stake in Philip Morris International during the 1st quarter worth approximately $25,000. Fortitude Family Office LLC raised its holdings in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH lifted its position in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in Philip Morris International during the second quarter worth approximately $34,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Bank of America upped their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays upped their target price on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $109.80.

Philip Morris International Price Performance

Shares of NYSE PM traded up $0.10 during mid-day trading on Thursday, hitting $120.10. The company had a trading volume of 4,155,681 shares, compared to its average volume of 5,344,273. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $120.21. The stock has a market cap of $186.70 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.35 and a beta of 0.58. The firm’s 50 day simple moving average is $108.66 and its two-hundred day simple moving average is $99.52.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Equities analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio is currently 101.56%.

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, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

About Philip Morris International

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.