Horizon Bancorp Inc. IN Reduces Stake in Philip Morris International Inc. (NYSE:PM)

Horizon Bancorp Inc. IN lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 41.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 500 shares of the company’s stock after selling 357 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Philip Morris International were worth $60,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. lifted its stake in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the period. Dunhill Financial LLC lifted its position in shares of Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the period. Concord Wealth Partners lifted its holdings in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares during the period. Darwin Wealth Management LLC purchased a new stake in Philip Morris International in the third quarter worth about $54,000. Finally, Reston Wealth Management LLC purchased a new stake in Philip Morris International in the third quarter worth about $58,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price 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. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.39.

Philip Morris International Stock Up 0.3 %

Shares of Philip Morris International stock opened at $117.47 on Tuesday. The company’s 50 day moving average is $126.08 and its 200 day moving average is $120.95. The company has a market cap of $182.65 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15.

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

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 annualized dividend and a yield of 4.60%. Philip Morris International’s payout ratio is presently 85.71%.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the sale, the insider now directly owns 95,418 shares in the company, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.