PNC Financial Services Group Inc. Sells 12,227 Shares of Philip Morris International Inc. (NYSE:PM)

PNC Financial Services Group Inc. trimmed its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,729,369 shares of the company's stock after selling 12,227 shares during the quarter. PNC Financial Services Group Inc. owned about 0.18% of Philip Morris International worth $331,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC increased its position in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after buying an additional 219 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC increased its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company's stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Valley Wealth Managers Inc. raised its position in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock worth $27,000 after purchasing an additional 183 shares during the period. Finally, Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company's stock worth $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock traded down $2.18 on Tuesday, reaching $129.54. 5,471,494 shares of the company traded hands, compared to its average volume of 5,413,449. The company has a 50 day moving average of $124.39 and a 200 day moving average of $113.94. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The firm has a market capitalization of $201.41 billion, a PE 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 posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share 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 company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the company earned $1.67 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders 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. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.17%. Philip Morris International's dividend payout ratio (DPR) is presently 85.71%.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Monday, July 22nd. The Goldman Sachs Group lifted their price objective 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. Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Finally, Barclays boosted their price target on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $131.50.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the business'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 sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following 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 position. The disclosure for this sale can be found here. 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.