Legacy Private Trust Co. Decreases Position in Philip Morris International Inc. (NYSE:PM)

Legacy Private Trust Co. lowered its position in shares of Philip Morris International Inc. (NYSE:PM) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,503 shares of the company’s stock after selling 439 shares during the period. Legacy Private Trust Co.’s holdings in Philip Morris International were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PM. NewSquare Capital LLC boosted its holdings in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $36,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $33,000. Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PM has been the topic of a number of recent analyst reports. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and raised their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Philip Morris International Trading Up 1.6%

NYSE PM opened at $180.74 on Friday. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $181.36. The stock has a market cap of $281.32 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.65 and a beta of 0.50. The company’s 50 day moving average is $165.26 and its two-hundred day moving average is $145.62.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the business earned $1.50 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s payout ratio is 111.34%.

Insiders Place Their Bets

In other news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now owns 26,828 shares in the company, valued at $4,103,610.88. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

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.