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

PNC Financial Services Group Inc. lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,729,369 shares of the company’s stock after selling 12,227 shares during the period. PNC Financial Services Group Inc. owned about 0.18% of Philip Morris International worth $331,345,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Woodmont Investment Counsel LLC increased its holdings in Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after buying an additional 86 shares during the last quarter. YHB Investment Advisors Inc. increased its stake in shares of Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after purchasing an additional 87 shares during the last quarter. Longfellow Investment Management Co. LLC raised its holdings in shares of 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 worth $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC grew its holdings in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the period. Finally, Cypress Wealth Services LLC raised its stake in shares of Philip Morris International by 1.3% in the third 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 period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $131.72 on Tuesday. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The stock has a market cap of $204.80 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 2.25 and a beta of 0.54. The firm’s fifty day moving average price is $124.39 and its 200-day moving average price is $113.94.

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

Philip Morris International Increases Dividend

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

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PM shares. JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $131.50.

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.