Central Pacific Bank Trust Division Sells 3,380 Shares of Philip Morris International Inc. (NYSE:PM)

Central Pacific Bank Trust Division reduced its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,301 shares of the company's stock after selling 3,380 shares during the period. Central Pacific Bank Trust Division's holdings in Philip Morris International were worth $4,333,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Omnia Family Wealth LLC raised its stake in shares of Philip Morris International by 1.7% in the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after buying an additional 65 shares in the last quarter. Meridian Wealth Partners LLC raised its stake in shares of Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock valued at $214,000 after buying an additional 70 shares in the last quarter. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Philip Morris International by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after purchasing an additional 73 shares in the last quarter. Finally, Balboa Wealth Partners increased its position in shares of Philip Morris International by 2.0% during the 4th quarter. Balboa Wealth Partners now owns 3,712 shares of the company's stock worth $447,000 after purchasing an additional 74 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday. Morgan Stanley reiterated an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Barclays increased their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and increased their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $169.20.

Philip Morris International Price Performance

Shares of PM stock traded up $2.87 during trading hours on Friday, reaching $180.74. 8,505,072 shares of the company were exchanged, compared to its average volume of 5,626,797. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $181.36. The stock's fifty day moving average is $165.26 and its two-hundred day moving average is $145.62. The company has a market cap of $281.32 billion, a price-to-earnings ratio of 40.08, a P/E/G ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is presently 111.34%.

Insider Activity

In other news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.