Wesbanco Bank Inc. Sells 1,385 Shares of Philip Morris International Inc. (NYSE:PM)

Wesbanco Bank Inc. lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 27,386 shares of the company’s stock after selling 1,385 shares during the period. Wesbanco Bank Inc.’s holdings in Philip Morris International were worth $3,325,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its stake in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Philip Morris International during the 2nd quarter valued at about $25,000. Sachetta LLC grew its position in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its stake in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.3 %

Shares of Philip Morris International stock opened at $120.42 on Wednesday. The business has a fifty day simple moving average of $121.09 and a two-hundred day simple moving average of $108.01. The firm has a market capitalization of $187.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s dividend payout ratio is currently 105.47%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Bank of America boosted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays raised their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group upped their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $123.95.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.