Oakworth Capital Inc. Reduces Position in Philip Morris International Inc. (NYSE:PM)

Oakworth Capital Inc. reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,387 shares of the company’s stock after selling 399 shares during the period. Oakworth Capital Inc.’s holdings in Philip Morris International were worth $695,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PM. Headlands Technologies LLC purchased a new stake in Philip Morris International during the third quarter worth $27,000. PCA Investment Advisory Services Inc. purchased a new stake in Philip Morris International during the second quarter worth $27,000. Tennessee Valley Asset Management Partners purchased a new stake in Philip Morris International during the fourth quarter worth $33,000. Legacy Financial Group LLC purchased a new stake in Philip Morris International during the third quarter worth $37,000. Finally, Studio Investment Management LLC boosted its holdings in Philip Morris International by 33.8% during the fourth quarter. Studio Investment Management LLC now owns 428 shares of the company’s stock worth $43,000 after buying an additional 108 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Philip Morris International news, VP Reginaldo Dobrowolski sold 2,000 shares of Philip Morris International stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now directly owns 9,726 shares in the company, valued at $882,050.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Insiders have sold 15,250 shares of company stock valued at $1,411,128 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 price objective on the stock in a report on Tuesday, February 13th. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. Finally, UBS Group downgraded shares of Philip Morris International from a “buy” rating to a “sell” rating and decreased their price objective for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.40.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $1.02 during midday trading on Wednesday, hitting $90.52. The company’s stock had a trading volume of 2,930,357 shares, compared to its average volume of 5,468,240. The business’s 50 day simple moving average is $91.09 and its 200 day simple moving average is $92.03. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $101.92. The company has a market cap of $140.72 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.85 and a beta of 0.61.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 8th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The firm had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.99 billion. During the same period last year, the firm earned $1.39 earnings per share. Philip Morris International’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.37 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 103.59%.

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.