PNC Financial Services Group Inc. Boosts Stake in Philip Morris International Inc. (NYSE:PM)

PNC Financial Services Group Inc. raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,806,457 shares of the company's stock after buying an additional 77,088 shares during the quarter. PNC Financial Services Group Inc. owned about 0.18% of Philip Morris International worth $337,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. FMR LLC raised its stake in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company's stock worth $2,812,649,000 after purchasing an additional 6,721,094 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Philip Morris International in the fourth quarter worth about $522,214,000. Massachusetts Financial Services Co. MA raised its stake in shares of Philip Morris International by 57.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company's stock worth $1,121,932,000 after purchasing an additional 3,363,454 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Philip Morris International by 21.0% in the fourth quarter. Bank of New York Mellon Corp now owns 16,070,482 shares of the company's stock worth $1,934,083,000 after purchasing an additional 2,785,987 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Philip Morris International by 161.6% in the third quarter. National Bank of Canada FI now owns 1,943,460 shares of the company's stock worth $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PM. Barclays lifted their price target on Philip Morris International from $145.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, February 7th. StockNews.com cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group lifted their price target on Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.56.

Philip Morris International Trading Down 1.6 %

PM traded down $2.50 during trading on Friday, hitting $151.05. The company's stock had a trading volume of 7,932,018 shares, compared to its average volume of 5,192,233. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $159.51. The business's fifty day simple moving average is $136.06 and its 200 day simple moving average is $129.07. The firm has a market capitalization of $234.87 billion, a price-to-earnings ratio of 33.49, a P/E/G ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Thursday, March 20th. Philip Morris International's dividend payout ratio is presently 119.73%.

Insider Transactions at Philip Morris International

In other news, SVP Yann Guerin sold 2,500 shares of Philip Morris International stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total value of $378,200.00. Following the sale, the senior vice president now directly owns 30,308 shares of the company's stock, valued at $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the transaction, the chairman now directly owns 561,349 shares in the company, valued at $83,674,681.94. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 over the last ninety days. Insiders own 0.13% of the company's stock.

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.