Cadence Bank Purchases 2,560 Shares of Philip Morris International Inc. (NYSE:PM)

Cadence Bank boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,715 shares of the company’s stock after buying an additional 2,560 shares during the period. Philip Morris International comprises 0.9% of Cadence Bank’s portfolio, making the stock its 22nd largest holding. Cadence Bank’s holdings in Philip Morris International were worth $12,712,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC boosted its stake in Philip Morris International by 40.9% in the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after buying an additional 6,721,094 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after acquiring an additional 1,856,551 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $155,373,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock worth $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $132.28 on Wednesday. The company has a fifty day moving average price of $125.04 and a two-hundred day moving average price of $115.30. The firm has a market capitalization of $205.67 billion, a PE ratio of 21.00, a P/E/G ratio of 2.29 and a beta of 0.54. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.08%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 85.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PM shares. Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Barclays boosted their target price on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price objective (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. Finally, UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $131.50.

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.