Canandaigua National Bank & Trust Co. Sells 1,001 Shares of Philip Morris International Inc. (NYSE:PM)

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 15.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,581 shares of the company’s stock after selling 1,001 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Philip Morris International were worth $678,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Longfellow Investment Management Co. LLC raised its position in shares of Philip Morris International by 0.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after acquiring an additional 88 shares in the last quarter. Dearborn Partners LLC raised its position in shares of Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock worth $291,000 after acquiring an additional 89 shares in the last quarter. LRI Investments LLC raised its position in shares of Philip Morris International by 1.5% during the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after acquiring an additional 92 shares in the last quarter. First Financial Bank Trust Division raised its position in shares of Philip Morris International by 3.9% during the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock worth $306,000 after acquiring an additional 95 shares in the last quarter. Finally, Cahill Financial Advisors Inc. raised its position in shares of Philip Morris International by 4.5% during the 2nd quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after acquiring an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock traded up $0.72 during midday trading on Friday, hitting $119.10. The company had a trading volume of 4,124,746 shares, compared to its average volume of 5,405,261. The company’s 50 day simple moving average is $120.48 and its 200 day simple moving average is $106.45. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22. The stock has a market cap of $185.15 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.37 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.53%. Philip Morris International’s payout ratio is 105.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PM. Stifel Nicolaus raised their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays lifted their price target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on 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 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.45.

Insider Activity at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International 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.