Busey Bank Sells 3,836 Shares of Philip Morris International Inc. (NYSE:PM)

Busey Bank reduced its position in Philip Morris International Inc. (NYSE:PM) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,809 shares of the company’s stock after selling 3,836 shares during the period. Busey Bank’s holdings in Philip Morris International were worth $23,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Moody Lynn & Lieberson LLC bought a new position in Philip Morris International during the third quarter valued at approximately $220,000. Mainstay Capital Management LLC ADV raised its stake in Philip Morris International by 2.4% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 15,799 shares of the company’s stock valued at $1,918,000 after buying an additional 367 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of Philip Morris International by 10.2% during the 3rd quarter. Dakota Wealth Management now owns 23,282 shares of the company’s stock valued at $2,827,000 after buying an additional 2,149 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Philip Morris International by 0.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 251,741 shares of the company’s stock worth $30,561,000 after buying an additional 1,026 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Philip Morris International by 16.2% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 638 shares of the company’s stock worth $77,000 after acquiring an additional 89 shares during the period. 78.63% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PM. JPMorgan Chase & Co. increased their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday. 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 report on Wednesday. Citigroup boosted their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Stock Performance

PM stock opened at $132.79 on Friday. The company’s fifty day moving average price is $121.97 and its 200-day moving average price is $109.28. Philip Morris International Inc. has a one year low of $87.23 and a one year high of $132.90. The company has a market capitalization of $206.46 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion for the quarter, compared to analysts’ expectations of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. On average, research analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.