Commerce Bank Sells 6,104 Shares of Philip Morris International Inc. (NYSE:PM)

Commerce Bank cut its stake in shares of Philip Morris International Inc. (NYSE:PMGet Rating) by 2.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 286,683 shares of the company’s stock after selling 6,104 shares during the period. Commerce Bank’s holdings in Philip Morris International were worth $26,931,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Carnegie Capital Asset Management LLC increased its position in shares of Philip Morris International by 2.6% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 8,836 shares of the company’s stock valued at $830,000 after purchasing an additional 223 shares during the last quarter. Crestwood Advisors Group LLC increased its position in shares of Philip Morris International by 6.0% during the 4th quarter. Crestwood Advisors Group LLC now owns 28,978 shares of the company’s stock valued at $2,753,000 after purchasing an additional 1,631 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Philip Morris International by 2.2% during the 1st quarter. Parallel Advisors LLC now owns 13,767 shares of the company’s stock valued at $1,293,000 after purchasing an additional 302 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Philip Morris International by 13.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,523 shares of the company’s stock valued at $143,000 after purchasing an additional 186 shares during the last quarter. Finally, First Community Trust NA increased its position in shares of Philip Morris International by 1.6% during the 1st quarter. First Community Trust NA now owns 8,478 shares of the company’s stock valued at $796,000 after purchasing an additional 133 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PM shares. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, July 26th. Jefferies Financial Group decreased their target price on Philip Morris International from $107.00 to $99.00 in a research report on Tuesday, July 19th. Bank of America lifted their price objective on Philip Morris International from $107.00 to $117.00 in a report on Sunday, April 24th. Finally, Morgan Stanley lifted their price objective on Philip Morris International from $104.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $110.33.

Philip Morris International Stock Performance

Shares of PM opened at $97.64 on Tuesday. The firm has a market cap of $151.36 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 3.58 and a beta of 0.62. Philip Morris International Inc. has a fifty-two week low of $85.64 and a fifty-two week high of $112.48. The business has a 50-day moving average of $98.30 and a 200 day moving average of $100.05.

Philip Morris International (NYSE:PMGet Rating) last posted its earnings results on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.22. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $6.76 billion. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.57 EPS. As a group, research analysts predict that Philip Morris International Inc. will post 5.99 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Thursday, June 30th. Philip Morris International’s payout ratio is presently 85.91%.

About Philip Morris International

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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 that are sold in markets outside the United States.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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