Commerce Bank Sells 2,932 Shares of Philip Morris International Inc. (NYSE:PM)

Key Points

• Commerce Bank reduced its holdings in Philip Morris International Inc. by 1.5%, selling 2,932 shares, leaving them with 191,186 shares worth approximately $30.3 million as of the latest reporting period.
• Wall Street analysts largely remain optimistic about Philip Morris, with average price targets rising to $186.27 and the majority issuing a "buy" rating.
• The company announced a quarterly dividend of $1.35, part of an annualized amount of $5.40, giving a dividend yield of 3.3%.

Commerce Bank cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 191,186 shares of the company's stock after selling 2,932 shares during the quarter. Commerce Bank's holdings in Philip Morris International were worth $30,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Philip Morris International in the first quarter worth $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International during the 4th quarter valued at $36,000. Ameriflex Group Inc. purchased a new stake in Philip Morris International during the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Philip Morris International in the 1st quarter worth $38,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded down $1.09 during trading on Friday, hitting $162.96. The company's stock had a trading volume of 7,552,974 shares, compared to its average volume of 6,943,793. Philip Morris International Inc. has a 52 week low of $113.15 and a 52 week high of $186.69. The company has a market capitalization of $253.66 billion, a PE ratio of 30.98, a P/E/G ratio of 2.37 and a beta of 0.48. The company has a fifty day simple moving average of $177.55 and a two-hundred day simple moving average of $162.20.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business's revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $1.59 earnings per share. As a group, analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is 102.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PM shares. Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research note on Tuesday, July 22nd. Barclays lowered their price target on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.27.

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.