Fulton Bank N.A. Sells 9,425 Shares of Philip Morris International Inc. (NYSE:PM)

Fulton Bank N.A. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 19.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,053 shares of the company’s stock after selling 9,425 shares during the quarter. Fulton Bank N.A.’s holdings in Philip Morris International were worth $4,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ossiam increased its position in Philip Morris International by 240.9% in the 4th quarter. Ossiam now owns 13,238 shares of the company’s stock valued at $1,245,000 after acquiring an additional 9,355 shares during the period. Evercore Wealth Management LLC lifted its stake in shares of Philip Morris International by 0.6% in the fourth quarter. Evercore Wealth Management LLC now owns 32,568 shares of the company’s stock worth $3,064,000 after acquiring an additional 179 shares during the period. XML Financial LLC boosted its holdings in Philip Morris International by 0.9% in the fourth quarter. XML Financial LLC now owns 14,283 shares of the company’s stock valued at $1,344,000 after acquiring an additional 134 shares during the last quarter. MGO One Seven LLC boosted its stake in shares of Philip Morris International by 0.6% in the 4th quarter. MGO One Seven LLC now owns 31,657 shares of the company’s stock valued at $2,978,000 after purchasing an additional 193 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in Philip Morris International by 11.1% during the fourth quarter. Bridgewater Associates LP now owns 983,247 shares of the company’s stock worth $92,504,000 after buying an additional 97,886 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of a number of recent analyst reports. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.45.

Philip Morris International Trading Down 0.2 %

NYSE PM traded down $0.19 during trading hours on Monday, hitting $118.91. The company’s stock had a trading volume of 5,109,847 shares, compared to its average volume of 5,403,732. The company’s 50-day simple moving average is $120.48 and its two-hundred day simple moving average is $106.62. The company has a market capitalization of $184.85 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $128.22.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.54%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 105.47%.

Insider Activity at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.