AMG National Trust Bank Reduces Position in Philip Morris International Inc. (NYSE:PM)

AMG National Trust Bank trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 32.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,703 shares of the company's stock after selling 6,969 shares during the quarter. AMG National Trust Bank's holdings in Philip Morris International were worth $1,785,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. White Lighthouse Investment Management Inc. grew its stake in shares of Philip Morris International by 71.4% in the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company's stock valued at $1,457,000 after acquiring an additional 4,999 shares in the last quarter. Accredited Investors Inc. grew its holdings in shares of Philip Morris International by 3,553.3% during the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company's stock worth $25,125,000 after purchasing an additional 201,294 shares during the last quarter. Axxcess Wealth Management LLC raised its stake in shares of Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company's stock valued at $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Philip Morris International in the third quarter valued at about $692,000. Finally, Swiss National Bank increased its position in shares of Philip Morris International by 0.4% during the third quarter. Swiss National Bank now owns 4,614,200 shares of the company's stock worth $560,164,000 after buying an additional 17,700 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Down 1.6 %

Shares of Philip Morris International stock traded down $2.14 during trading on Tuesday, reaching $129.58. The company's stock had a trading volume of 3,379,760 shares, compared to its average volume of 5,404,102. The firm's 50-day moving average is $124.39 and its two-hundred day moving average is $113.94. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The company has a market cap of $201.47 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.25 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. Philip Morris International's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.17%. Philip Morris International's payout ratio is presently 85.71%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PM shares. Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. Stifel Nicolaus restated a "buy" rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average target price of $131.50.

Insider Activity

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 value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% 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.