Zions Bancorporation N.A. Has $8.20 Million Stake in Philip Morris International Inc. (NYSE:PM)

Zions Bancorporation N.A. lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,506 shares of the company's stock after selling 34,151 shares during the period. Philip Morris International accounts for 0.6% of Zions Bancorporation N.A.'s portfolio, making the stock its 23rd largest holding. Zions Bancorporation N.A.'s holdings in Philip Morris International were worth $8,195,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company's stock valued at $12,511,292,000 after acquiring an additional 481,636 shares during the last quarter. Capital World Investors raised its position in Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company's stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares during the last quarter. Capital Research Global Investors raised its position in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp raised its position in Philip Morris International by 16.3% in 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 purchasing an additional 1,856,551 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Philip Morris International by 7.4% in the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company's stock worth $1,079,767,000 after purchasing an additional 736,961 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PM. The Goldman Sachs Group boosted 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. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. Stifel Nicolaus restated a "buy" rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Bank of America lifted their target price 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, Citigroup lifted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $127.85.

Philip Morris International Trading Up 2.4 %

Shares of Philip Morris International stock traded up $2.96 during trading hours on Thursday, reaching $128.20. 6,805,298 shares of the company's stock were exchanged, compared to its average volume of 5,398,730. The company has a 50 day moving average of $124.19 and a two-hundred day moving average of $113.11. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $134.15. The stock has a market cap of $199.33 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.17 and a beta of 0.54.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $9.68 billion. During the same period last year, the business posted $1.67 EPS. Philip Morris International's revenue was up 8.4% on a year-over-year basis. As a group, 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 announced 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 an increase from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International's dividend payout ratio (DPR) is 85.71%.

Insider Activity at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company 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.