Philip Morris International Inc. (NYSE:PM) Shares Sold by First County Bank CT

First County Bank CT decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,616 shares of the company’s stock after selling 2,821 shares during the quarter. Philip Morris International makes up about 1.5% of First County Bank CT’s portfolio, making the stock its 17th biggest holding. First County Bank CT’s holdings in Philip Morris International were worth $2,601,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter worth about $25,000. Sachetta LLC raised its stake in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. lifted its holdings in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after acquiring an additional 183 shares during the last quarter. Dunhill Financial LLC increased its holdings in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the last quarter. Finally, Concord Wealth Partners raised its position in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PM shares. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays raised their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.50.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $0.19 on Tuesday, hitting $121.19. 1,973,480 shares of the company’s stock were exchanged, compared to its average volume of 3,390,724. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15. The company has a market capitalization of $188.43 billion, a PE ratio of 19.24, a P/E/G ratio of 2.22 and a beta of 0.54. The firm’s 50-day moving average is $127.23 and its 200 day moving average is $120.30.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post 6.51 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

Insider Transactions at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.