Oakworth Capital Inc. Decreases Stake in Philip Morris International Inc. (NYSE:PM)

Oakworth Capital Inc. reduced its position in Philip Morris International Inc. (NYSE:PM) by 18.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,586 shares of the company’s stock after selling 1,299 shares during the period. Oakworth Capital Inc.’s holdings in Philip Morris International were worth $678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its position in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC boosted its position in Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after buying an additional 105 shares during the last quarter. Fortitude Family Office LLC boosted its position in Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after buying an additional 116 shares during the last quarter. Olistico Wealth LLC purchased a new position in Philip Morris International in the 2nd quarter valued at about $34,000. Finally, Hobbs Group Advisors LLC purchased a new position in Philip Morris International in the 2nd quarter valued at about $42,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Philip Morris International Stock Up 6.3 %

PM opened at $126.50 on Tuesday. The firm has a market cap of $196.65 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company’s 50-day moving average price is $121.41 and its 200 day moving average price is $108.83.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. Research analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.27%. Philip Morris International’s dividend payout ratio is 105.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus increased their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.95.

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.