Philip Morris International Inc. (NYSE:PM) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 33.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,506 shares of the company’s stock after selling 34,151 shares during the period. Philip Morris International comprises about 0.6% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 23rd biggest holding. Zions Bancorporation N.A.’s holdings in Philip Morris International were worth $8,195,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC lifted its position in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Philip Morris International during the second quarter worth about $25,000. Sachetta LLC lifted its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Philip Morris International during the second quarter worth about $34,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

NYSE PM opened at $125.24 on Thursday. 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 $194.73 billion, a PE ratio of 19.88, a P/E/G ratio of 2.17 and a beta of 0.54. The company’s 50 day simple moving average is $124.19 and its 200 day simple moving average is $113.11.

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

Philip Morris International Increases Dividend

The business 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 represents a $5.40 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PM shares. 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 reissued a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Philip Morris International news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on 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 completion of the transaction, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.