Legacy Private Trust Co. Has $218,000 Stock Position in Philip Morris International Inc. (NYSE:PM)

Legacy Private Trust Co. reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 67.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,772 shares of the company’s stock after selling 5,711 shares during the period. Legacy Private Trust Co.’s holdings in Philip Morris International were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CX Institutional increased its position in shares of Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after buying an additional 363 shares during the period. Shamrock Asset Management LLC increased its position in shares of Philip Morris International by 53.9% during the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after buying an additional 200 shares during the period. HMS Capital Management LLC acquired a new stake in shares of Philip Morris International during the second quarter worth $46,000. Clarfeld Financial Advisors LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth $40,000. Finally, Weaver Consulting Group acquired a new stake in shares of Philip Morris International during the first quarter worth $55,000. Hedge funds and other institutional investors own 73.48% of the company’s stock.

In other Philip Morris International news, VP Michael R. Kunst acquired 1,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $79.66 per share, with a total value of $79,660.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on PM shares. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the stock a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. ValuEngine cut shares of United Rentals from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 18th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Finally, Bank of America set a $120.00 price objective on shares of Walmart and gave the stock a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $93.92.

Shares of NYSE PM opened at $86.19 on Wednesday. The company has a market capitalization of $133.77 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.10 and a beta of 0.96. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74. The business’s fifty day moving average is $81.09.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. Philip Morris International’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 earnings per share. On average, analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.29%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s dividend payout ratio is presently 89.41%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

Featured Story: What is Call Option Volume?

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.