Central Pacific Bank Trust Division Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Central Pacific Bank Trust Division trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 11.0% in the first quarter, Holdings Channel reports. The firm owned 27,301 shares of the company’s stock after selling 3,380 shares during the period. Central Pacific Bank Trust Division’s holdings in Philip Morris International were worth $4,333,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PM. Omnia Family Wealth LLC increased its stake in shares of Philip Morris International by 1.7% in the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company’s stock worth $469,000 after purchasing an additional 65 shares during the period. Meridian Wealth Partners LLC grew its holdings in Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock valued at $214,000 after buying an additional 70 shares during the last quarter. NewSquare Capital LLC grew its holdings 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 buying an additional 72 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Philip Morris International by 2.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock worth $437,000 after buying an additional 73 shares during the period. Finally, Balboa Wealth Partners lifted its holdings in shares of Philip Morris International by 2.0% during the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock worth $447,000 after buying an additional 74 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Philip Morris International stock opened at $177.79 on Friday. The business has a 50 day simple moving average of $164.70 and a 200 day simple moving average of $145.23. The company has a market capitalization of $276.73 billion, a PE ratio of 39.42, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $179.83.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.04%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.34%.

Insiders Place Their Bets

In other news, insider Lars Dahlgren sold 3,679 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. The trade was a 12.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research analyst reports. UBS Group upgraded shares of Philip Morris International from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays increased their price target on shares of Philip Morris International from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, Needham & Company LLC assumed coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.20.

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.