Canandaigua National Bank & Trust Co. Has $667,000 Stake in Philip Morris International Inc. (NYSE:PM)

Canandaigua National Bank & Trust Co. reduced its position in Philip Morris International Inc. (NYSE:PM) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,284 shares of the company’s stock after selling 511 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Philip Morris International were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its stake in Philip Morris International by 9.1% during the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock worth $5,495,794,000 after acquiring an additional 4,869,272 shares in the last quarter. Wellington Management Group LLP increased its position in Philip Morris International by 12.6% during the 3rd quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after purchasing an additional 3,121,732 shares in the last quarter. Lone Pine Capital LLC bought a new position in Philip Morris International in the 4th quarter valued at approximately $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Philip Morris International by 25.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after buying an additional 2,123,311 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Philip Morris International by 216.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,691,337 shares of the company’s stock worth $159,121,000 after buying an additional 1,156,227 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price target on Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.50.

Philip Morris International Trading Down 0.8 %

NYSE PM opened at $101.24 on Wednesday. The firm has a market capitalization of $157.38 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 2.10 and a beta of 0.57. The business’s 50-day moving average price is $98.29 and its two-hundred day moving average price is $94.44. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business posted $1.38 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 6.32 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Friday, June 21st. Philip Morris International’s dividend payout ratio is presently 101.56%.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $96.42, for a total value of $1,928,400.00. Following the transaction, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by 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.