Stock Yards Bank & Trust Co. Purchases 972 Shares of Philip Morris International Inc. (NYSE:PM)

Stock Yards Bank & Trust Co. increased its position in Philip Morris International Inc. (NYSE:PM) by 0.9% during the first quarter, Holdings Channel reports. The firm owned 107,978 shares of the company’s stock after buying an additional 972 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Philip Morris International were worth $17,139,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PM. NewSquare Capital LLC raised its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Knuff & Co LLC bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Down 0.0%

Shares of NYSE:PM opened at $184.01 on Friday. The company’s 50 day moving average price is $170.67 and its two-hundred day moving average price is $149.22. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.16. The firm has a market cap of $286.41 billion, a PE ratio of 40.80, a PEG ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America increased their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Barclays increased their price target on shares of Philip Morris International from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.80.

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.