Park National Corp OH Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Park National Corp OH reduced its stake in Philip Morris International Inc. (NYSE:PM) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,935 shares of the company’s stock after selling 448 shares during the quarter. Park National Corp OH’s holdings in Philip Morris International were worth $1,206,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GQG Partners LLC raised its holdings in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Philip Morris International in the 4th quarter worth about $282,785,000. Massachusetts Financial Services Co. MA grew its position in Philip Morris International by 79.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after purchasing an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp increased its stake in Philip Morris International by 5,045.1% in the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after buying an additional 2,081,472 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after buying an additional 1,856,551 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus boosted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $121.45.

Philip Morris International Stock Down 1.0 %

PM opened at $118.35 on Friday. The company has a market capitalization of $183.98 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.37 and a beta of 0.55. The firm has a 50-day moving average price of $120.36 and a 200-day moving average price of $106.28. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. Philip Morris International’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 EPS. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.56%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate 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.