Independence Bank of Kentucky Sells 152 Shares of Philip Morris International Inc. (NYSE:PM)

Independence Bank of Kentucky reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,407 shares of the company’s stock after selling 152 shares during the quarter. Independence Bank of Kentucky’s holdings in Philip Morris International were worth $2,113,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Longfellow Investment Management Co. LLC grew its stake in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after buying an additional 88 shares during the last quarter. Dearborn Partners LLC grew its stake in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares during the last quarter. Cypress Wealth Services LLC grew its stake in Philip Morris International by 1.3% in the 3rd quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock valued at $819,000 after buying an additional 89 shares during the last quarter. LRI Investments LLC grew its stake in Philip Morris International by 1.5% in the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after buying an additional 92 shares during the last quarter. Finally, First Financial Bank Trust Division grew its stake in Philip Morris International by 3.9% in the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock valued at $306,000 after buying an additional 95 shares during the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Stock Performance

NYSE:PM traded down $0.10 during midday trading on Friday, reaching $119.29. 104,553 shares of the stock traded hands, compared to its average volume of 5,347,037. The company has a fifty day moving average of $120.79 and a 200 day moving average of $107.18. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The stock has a market capitalization of $185.47 billion, a P/E ratio of 21.13, a PEG ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. On average, analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. 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 4.53%. Philip Morris International’s dividend payout ratio is currently 95.58%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of analyst reports. UBS Group increased their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Barclays increased their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.41.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the company’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 of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Company 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.