Canandaigua National Bank & Trust Co. Grows Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Canandaigua National Bank & Trust Co. raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,182 shares of the company’s stock after buying an additional 304 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Philip Morris International were worth $2,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Blueprint LLC purchased a new position in Philip Morris International in the third quarter valued at $30,000. River & Mercantile Asset Management LLP purchased a new position in Philip Morris International in the second quarter valued at $32,000. NewSquare Capital LLC boosted its holdings in Philip Morris International by 205.2% in the fourth quarter. NewSquare Capital LLC now owns 409 shares of the company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. Northwest Investment Counselors LLC purchased a new position in Philip Morris International in the third quarter valued at $37,000. Finally, Prestige Wealth Management Group LLC purchased a new position in Philip Morris International in the second quarter valued at $38,000. Institutional investors and hedge funds own 73.05% of the company’s stock.

Philip Morris International stock traded up $0.01 during midday trading on Friday, reaching $88.57. The company’s stock had a trading volume of 276,858 shares, compared to its average volume of 4,845,639. Philip Morris International Inc. has a fifty-two week low of $69.27 and a fifty-two week high of $92.74. The company has a market cap of $136.26 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.06 and a beta of 1.00. The business has a 50-day simple moving average of $85.27 and a 200-day simple moving average of $81.38.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the firm earned $1.44 earnings per share. Philip Morris International’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Philip Morris International Inc. will post 5.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 19th were paid a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend was Wednesday, December 18th. Philip Morris International’s dividend payout ratio is presently 91.76%.

A number of research analysts recently issued reports on PM shares. Wells Fargo & Co decreased their target price on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 18th. ValuEngine lowered Philip Morris International from a “sell” rating to a “strong sell” rating in a report on Friday, January 10th. Morgan Stanley lifted their target price on Philip Morris International from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Bank of America upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 target price for the company in a report on Tuesday, October 1st. Finally, Piper Sandler lifted their target price on Philip Morris International from $105.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $95.17.

Philip Morris International Profile

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.

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

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