First Hawaiian Bank Cuts Holdings in Philip Morris International Inc. (NYSE:PM)

First Hawaiian Bank lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 11.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,604 shares of the company’s stock after selling 2,031 shares during the quarter. First Hawaiian Bank’s holdings in Philip Morris International were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kessler Investment Group LLC purchased a new position in Philip Morris International during the first quarter valued at $25,000. Boyd Watterson Asset Management LLC OH grew its stake in shares of Philip Morris International by 250.0% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International in the 4th quarter worth approximately $33,000. Northwest Financial Advisors bought a new stake in Philip Morris International during the 4th quarter worth approximately $33,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Philip Morris International during the fourth quarter valued at approximately $38,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America lifted their price objective on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $107.80.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Up 0.8 %

Shares of Philip Morris International stock traded up $0.88 during mid-day trading on Tuesday, reaching $114.44. 3,358,642 shares of the stock traded hands, compared to its average volume of 5,422,994. The business has a 50-day moving average of $105.11 and a 200 day moving average of $97.43. The stock has a market capitalization of $177.90 billion, a PE ratio of 22.18, a PEG ratio of 2.35 and a beta of 0.58. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $119.06.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the company earned $1.60 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Philip Morris International Inc. will post 6.41 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.54%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is currently 101.56%.

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.