PNC Financial Services Group Inc. Sells 12,227 Shares of Philip Morris International Inc. (NYSE:PM)

PNC Financial Services Group Inc. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,729,369 shares of the company’s stock after selling 12,227 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Philip Morris International were worth $331,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PM. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Iron Horse Wealth Management LLC raised its stake in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares in the last quarter. Sachetta LLC lifted its holdings in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Concord Wealth Partners boosted its position in Philip Morris International by 2,709.1% during the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after acquiring an additional 298 shares in the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PM. Citigroup lifted their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group upped their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, The Goldman Sachs Group raised their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.50.

Philip Morris International Price Performance

PM stock opened at $131.72 on Tuesday. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The stock has a market capitalization of $204.80 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.25 and a beta of 0.54. The business has a fifty day moving average price of $124.39 and a 200-day moving average price of $113.94.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the firm posted $1.67 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is currently 85.71%.

Philip Morris International 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.