CNB Bank Has $1.24 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

CNB Bank lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,322 shares of the company’s stock after selling 980 shares during the period. CNB Bank’s holdings in Philip Morris International were worth $1,242,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in PM. White Lighthouse Investment Management Inc. raised its stake in Philip Morris International by 71.4% in the 3rd quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,999 shares during the period. Range Financial Group LLC boosted its holdings in shares of Philip Morris International by 504.9% during the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock worth $2,758,000 after buying an additional 19,127 shares during the period. Accredited Investors Inc. grew its stake in Philip Morris International by 3,553.3% in the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after buying an additional 201,294 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Philip Morris International by 37.5% in the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after purchasing an additional 6,605 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock valued at $12,134,000 after purchasing an additional 16,035 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.4 %

Shares of PM stock opened at $120.34 on Friday. The business’s 50-day moving average price is $125.67 and its 200-day moving average price is $121.05. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm has a market capitalization of $187.11 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.86 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. Philip Morris International’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.49%. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PM. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Insider Activity

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

About Philip Morris International

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.