Atlantic Union Bankshares Corp Has $6.83 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Atlantic Union Bankshares Corp lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 74,590 shares of the company’s stock after selling 420 shares during the period. Atlantic Union Bankshares Corp’s holdings in Philip Morris International were worth $6,834,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of Philip Morris International by 9.1% during the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock worth $5,495,794,000 after purchasing an additional 4,869,272 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Philip Morris International by 12.6% during the third quarter. Wellington Management Group LLP now owns 27,821,802 shares of the company’s stock worth $2,575,742,000 after purchasing an additional 3,121,732 shares in the last quarter. Lone Pine Capital LLC bought a new position in shares of Philip Morris International during the fourth quarter worth $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Philip Morris International by 25.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock worth $996,104,000 after purchasing an additional 2,123,311 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Philip Morris International by 216.1% during the fourth quarter. Point72 Asset Management L.P. now owns 1,691,337 shares of the company’s stock worth $159,121,000 after purchasing an additional 1,156,227 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PM shares. Argus reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Hold” and an average price target of $104.22.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated 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 directly owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Philip Morris International Price Performance

NYSE:PM traded down $0.18 on Friday, hitting $101.39. 7,299,441 shares of the company’s stock were exchanged, compared to its average volume of 5,500,728. The firm has a 50-day moving average price of $100.08 and a 200-day moving average price of $94.93. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $104.90. The company has a market cap of $157.62 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 2.09 and a beta of 0.57.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The firm had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the previous year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts expect that Philip Morris International Inc. will post 6.32 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.13%. Philip Morris International’s dividend payout ratio is presently 101.56%.

About Philip Morris International

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.