Philip Morris International Inc. (NYSE:PM) Shares Sold by Park National Corp OH

Park National Corp OH decreased its stake in Philip Morris International Inc. (NYSE:PM) by 2.2% in the 1st quarter, Holdings Channel reports. The firm owned 7,549 shares of the company’s stock after selling 167 shares during the quarter. Park National Corp OH’s holdings in Philip Morris International were worth $1,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. Capital World Investors lifted its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. GQG Partners LLC lifted its stake in shares of Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares during the period. Geode Capital Management LLC lifted its stake in shares of Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP raised its position in Philip Morris International by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock worth $2,079,262,000 after acquiring an additional 516,617 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Activity

In related news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PM. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Barclays upped their price target on shares of Philip Morris International from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Stifel Nicolaus upped their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Citigroup upped their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $169.20.

Philip Morris International Price Performance

NYSE:PM opened at $177.79 on Friday. The firm has a 50 day simple moving average of $164.70 and a 200-day simple moving average of $145.23. The firm has a market cap of $276.73 billion, a PE ratio of 39.42, a P/E/G ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $179.83.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion during 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 company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s dividend payout ratio is presently 111.34%.

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.