Truist Financial Corp Sells 98,293 Shares of Philip Morris International Inc. (NYSE:PM)

Truist Financial Corp lowered its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,991,584 shares of the company's stock after selling 98,293 shares during the quarter. Truist Financial Corp owned about 0.13% of Philip Morris International worth $187,368,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PM. Headlands Technologies LLC acquired a new stake in Philip Morris International during the third quarter worth approximately $27,000. Tennessee Valley Asset Management Partners bought a new position in shares of Philip Morris International in the fourth quarter worth $33,000. Legacy Financial Group LLC bought a new position in shares of Philip Morris International in the third quarter worth $37,000. Wetzel Investment Advisors Inc. acquired a new position in Philip Morris International in the fourth quarter valued at about $39,000. Finally, McClarren Financial Advisors Inc. lifted its position in Philip Morris International by 158.0% during the fourth quarter. McClarren Financial Advisors Inc. now owns 454 shares of the company's stock worth $43,000 after purchasing an additional 278 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 1.2 %

PM traded down $1.12 during trading on Friday, reaching $94.97. 5,390,948 shares of the company's stock were exchanged, compared to its average volume of 5,771,704. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $100.79. The firm has a fifty day moving average price of $91.90 and a two-hundred day moving average price of $92.20. The stock has a market capitalization of $147.64 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion during the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 9.83%. Philip Morris International's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. Sell-side analysts expect that Philip Morris International Inc. will post 6.29 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Thursday, March 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.48%. The ex-dividend date of this dividend was Wednesday, March 20th. Philip Morris International's payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PM shares. Societe Generale upgraded shares of Philip Morris International from a "sell" rating to a "hold" rating and set a $87.50 target price for the company in a research report on Tuesday, February 13th. Argus restated a "hold" rating on shares of Philip Morris International in a research report on Tuesday, March 5th. UBS Group downgraded Philip Morris International from a "buy" rating to a "sell" rating and reduced their target price for the company from $105.00 to $86.50 in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus upped their price objective on Philip Morris International from $108.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $105.50.

Insider Buying and Selling at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the transaction, the insider now owns 178,447 shares of the company's stock, valued at $17,205,859.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Reginaldo Dobrowolski sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the completion of the sale, the vice president now owns 9,726 shares of the company's stock, valued at approximately $882,050.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business's stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, the insider now owns 178,447 shares in the company, valued at approximately $17,205,859.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,250 shares of company stock valued at $3,339,528. 0.13% of the stock is currently owned by company insiders.

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.

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