Cadence Bank Buys 605 Shares of Philip Morris International Inc. (NYSE:PM)

Cadence Bank lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,320 shares of the company’s stock after acquiring an additional 605 shares during the quarter. Philip Morris International makes up approximately 0.9% of Cadence Bank’s portfolio, making the stock its 23rd biggest position. Cadence Bank’s holdings in Philip Morris International were worth $12,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Adams Wealth Management lifted its holdings in shares of Philip Morris International by 11.1% during the fourth quarter. Adams Wealth Management now owns 6,645 shares of the company’s stock worth $800,000 after purchasing an additional 666 shares during the period. Arvest Bank Trust Division grew its position in shares of Philip Morris International by 8.3% in the 4th quarter. Arvest Bank Trust Division now owns 4,478 shares of the company’s stock valued at $539,000 after buying an additional 345 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Philip Morris International by 0.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 426,143 shares of the company’s stock valued at $51,250,000 after buying an additional 1,117 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Philip Morris International in the fourth quarter worth approximately $205,000. Finally, First Commonwealth Financial Corp PA boosted its holdings in Philip Morris International by 4.4% in the fourth quarter. First Commonwealth Financial Corp PA now owns 10,296 shares of the company’s stock valued at $1,239,000 after acquiring an additional 432 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM opened at $163.08 on Friday. Philip Morris International Inc. has a 52 week low of $90.65 and a 52 week high of $165.00. The stock has a 50 day moving average price of $153.50 and a two-hundred day moving average price of $135.62. The firm has a market capitalization of $253.83 billion, a P/E ratio of 36.16, a P/E/G ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.31%. Philip Morris International’s payout ratio is presently 119.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Stifel Nicolaus lifted their price objective on Philip Morris International from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. Citigroup boosted their price target on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $150.78.

Insider Activity

In other news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. The trade was a 12.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now owns 561,349 shares of the company’s stock, valued at $83,674,681.94. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,822 shares of company stock valued at $19,655,585 over the last three months. Corporate insiders own 0.13% 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.