Community Trust & Investment Co. Sells 854 Shares of Philip Morris International Inc. (NYSE:PM)

Community Trust & Investment Co. lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,334 shares of the company’s stock after selling 854 shares during the period. Community Trust & Investment Co.’s holdings in Philip Morris International were worth $2,961,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in Philip Morris International by 100,700.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock worth $1,582,939,000 after purchasing an additional 15,624,628 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Philip Morris International by 31.7% in the first quarter. Federated Hermes Inc. now owns 9,036,858 shares of the company’s stock worth $878,834,000 after buying an additional 2,174,242 shares during the period. Perpetual Ltd bought a new stake in Philip Morris International during the 1st quarter valued at approximately $201,779,000. Canoe Financial LP bought a new stake in Philip Morris International during the 1st quarter valued at approximately $150,424,000. Finally, Renaissance Technologies LLC boosted its position in Philip Morris International by 122.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,632,467 shares of the company’s stock valued at $247,294,000 after acquiring an additional 1,446,567 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.1 %

PM traded down $0.11 during midday trading on Tuesday, hitting $96.85. 619,727 shares of the company traded hands, compared to its average volume of 4,199,231. The firm has a market capitalization of $150.34 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. The company’s 50-day moving average is $96.49 and its 200 day moving average is $96.05. Philip Morris International Inc. has a 52 week low of $82.85 and a 52 week high of $105.62.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The firm had revenue of $8.97 billion for the quarter, compared to analysts’ expectations of $8.76 billion. During the same period in the prior year, the firm earned $1.48 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.19 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a dividend of $1.30 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $5.20 dividend on an annualized basis and a yield of 5.37%. Philip Morris International’s dividend payout ratio (DPR) is presently 98.26%.

Analyst Ratings Changes

A number of analysts have recently commented on PM shares. Jefferies Financial Group dropped their target price on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. StockNews.com began coverage on Philip Morris International in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, 22nd Century Group reissued a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. 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. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $110.70.

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.