Huntington National Bank Increases Position in Philip Morris International Inc. (NYSE:PM)

Huntington National Bank grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,079 shares of the company's stock after purchasing an additional 4,268 shares during the quarter. Huntington National Bank's holdings in Philip Morris International were worth $19,919,000 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 stock. GQG Partners LLC increased its holdings in shares of Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company's stock worth $545,908,000 after acquiring an additional 5,841,696 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 79.3% during the second 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 during the period. Bank of New York Mellon Corp increased its holdings in shares of Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Capital Research Global Investors raised its position in shares of Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the period. Finally, Capital World Investors lifted its stake in shares of Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock worth $10,192,510,000 after buying an additional 1,684,992 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares of the company's stock, valued at $124,624,965.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a "sell" rating in a report on Wednesday, October 23rd. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Finally, Barclays raised their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.85.

Philip Morris International Price Performance

Shares of NYSE:PM traded up $2.39 during mid-day trading on Thursday, hitting $127.63. The company had a trading volume of 2,615,649 shares, compared to its average volume of 5,379,031. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a fifty day moving average price of $124.19 and a 200 day moving average price of $113.11. The company has a market capitalization of $198.44 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 2.17 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.23%. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's dividend payout ratio is presently 85.71%.

About Philip Morris International

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.