CNB Bank Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

CNB Bank decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 25.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 7,746 shares of the company’s stock after selling 2,576 shares during the quarter. CNB Bank’s holdings in Philip Morris International were worth $1,230,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC increased its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Pacifica Partners Inc. increased its position in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Knuff & Co LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth $36,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth $36,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PM. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Citigroup increased their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating on the stock. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.80.

Philip Morris International Trading Up 0.6%

Shares of PM opened at $180.61 on Friday. Philip Morris International Inc. has a twelve month low of $100.80 and a twelve month high of $186.69. The stock’s 50 day moving average is $175.60 and its two-hundred day moving average is $152.43. The firm has a market capitalization of $281.13 billion, a PE ratio of 37.24, a P/E/G ratio of 2.60 and a beta of 0.52.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s dividend payout ratio (DPR) is 111.34%.

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.