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

Park National Corp OH reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,424 shares of the company’s stock after selling 1,294 shares during the period. Park National Corp OH’s holdings in Philip Morris International were worth $955,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia grew its stake in Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after purchasing an additional 876,790 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in Philip Morris International by 2.3% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 603,442 shares of the company’s stock worth $56,772,000 after buying an additional 13,416 shares during the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in Philip Morris International during the 4th quarter valued at approximately $1,251,000. Nebula Research & Development LLC acquired a new position in Philip Morris International during the fourth quarter valued at $857,000. Finally, AJOVista LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $137,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 178,447 shares of the company’s stock, valued at $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of 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 reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $105.50.

Philip Morris International Stock Down 0.8 %

PM opened at $101.24 on Wednesday. The company has a market cap 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. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $104.90. The company has a 50-day moving average price of $98.29 and a 200 day moving average price of $94.44.

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

Philip Morris International Dividend Announcement

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

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.