FineMark National Bank & Trust Sells 2,771 Shares of Philip Morris International Inc. $PM

FineMark National Bank & Trust cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,561 shares of the company’s stock after selling 2,771 shares during the period. FineMark National Bank & Trust’s holdings in Philip Morris International were worth $9,027,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PM. WCM Investment Management LLC increased its holdings in Philip Morris International by 24,968.0% in the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after purchasing an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new position in shares of Philip Morris International in the first quarter valued at approximately $1,712,994,000. Wellington Management Group LLP raised its holdings in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after buying an additional 4,563,632 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the period. Finally, Vanguard Group Inc. boosted its position in Philip Morris International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 142,857,055 shares of the company’s stock worth $26,018,555,000 after buying an additional 2,235,380 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Morgan Stanley set a $175.00 price objective on Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Trading Up 2.2%

Shares of PM opened at $156.05 on Wednesday. The firm’s fifty day simple moving average is $157.08 and its two-hundred day simple moving average is $167.63. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The stock has a market capitalization of $242.92 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.43.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

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.