AMG National Trust Bank Sells 7,500 Shares of Philip Morris International Inc. $PM

AMG National Trust Bank trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 54.6% during the second quarter, Holdings Channel reports. The fund owned 6,246 shares of the company’s stock after selling 7,500 shares during the quarter. AMG National Trust Bank’s holdings in Philip Morris International were worth $1,138,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Savoir Faire Capital Management L.P. raised its stake in shares of Philip Morris International by 446.5% in the 2nd quarter. Savoir Faire Capital Management L.P. now owns 44,055 shares of the company’s stock valued at $8,024,000 after acquiring an additional 35,994 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of Philip Morris International by 0.9% in the 2nd quarter. Kovack Advisors Inc. now owns 7,332 shares of the company’s stock valued at $1,335,000 after acquiring an additional 64 shares in the last quarter. Earned Wealth Advisors LLC raised its stake in shares of Philip Morris International by 11.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 5,647 shares of the company’s stock valued at $1,028,000 after acquiring an additional 586 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of Philip Morris International by 0.8% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 57,482 shares of the company’s stock valued at $10,470,000 after acquiring an additional 465 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp raised its stake in shares of Philip Morris International by 13.8% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 78,737 shares of the company’s stock valued at $14,340,000 after acquiring an additional 9,531 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. UBS Group lowered their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Trading Down 1.0%

Shares of NYSE:PM opened at $144.33 on Friday. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The firm has a market capitalization of $224.67 billion, a PE ratio of 26.15, a PEG ratio of 2.11 and a beta of 0.46. The business’s 50 day moving average is $160.05 and its 200-day moving average is $168.80.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, October 3rd. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 106.52%.

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.