Hancock Whitney Corp Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Hancock Whitney Corp lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,287 shares of the company’s stock after selling 87 shares during the period. Hancock Whitney Corp’s holdings in Philip Morris International were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Longfellow Investment Management Co. LLC grew its stake in shares of Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after buying an additional 88 shares in the last quarter. Dearborn Partners LLC increased its stake in Philip Morris International by 3.2% during the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after purchasing an additional 89 shares during the period. LRI Investments LLC lifted its position in shares of Philip Morris International by 1.5% during the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after purchasing an additional 92 shares in the last quarter. Cahill Financial Advisors Inc. boosted its stake in shares of Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after purchasing an additional 99 shares during the period. Finally, Pekin Hardy Strauss Inc. grew its holdings in shares of Philip Morris International by 0.3% in the second quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after purchasing an additional 99 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Trading Up 0.2 %

Shares of Philip Morris International stock opened at $121.09 on Tuesday. The company has a fifty day simple moving average of $118.49 and a 200-day simple moving average of $104.97. The stock has a market cap of $188.24 billion, a price-to-earnings ratio of 23.65, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.23 and a 12-month high of $128.22.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the company posted $1.60 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $1.35 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus upped their price target on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barclays lifted their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, UBS Group upped their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.05.

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.