FARMERS & MERCHANTS TRUST Co OF LONG BEACH Trims Stock Holdings in Philip Morris International Inc. $PM

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 49.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,563 shares of the company’s stock after selling 4,475 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Philip Morris International were worth $740,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Philip Morris International by 10.4% during the second quarter. Parallel Advisors LLC now owns 20,402 shares of the company’s stock worth $3,716,000 after acquiring an additional 1,919 shares during the period. RMR Wealth Builders raised its stake in shares of Philip Morris International by 5.5% during the second quarter. RMR Wealth Builders now owns 2,917 shares of the company’s stock valued at $531,000 after acquiring an additional 151 shares in the last quarter. Finally, Baker Ellis Asset Management LLC bought a new stake in shares of Philip Morris International during the second quarter valued at approximately $200,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of NYSE PM opened at $165.91 on Wednesday. Philip Morris International Inc. has a 1-year low of $117.18 and a 1-year high of $186.69. The business has a fifty day moving average price of $156.41 and a 200 day moving average price of $161.79. The stock has a market capitalization of $258.26 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 1.78 and a beta of 0.40.

Philip Morris International (NYSE:PM) last announced its earnings results on Friday, October 24th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.14. The business had revenue of $10.85 billion during the quarter, compared to the consensus estimate of $10.67 billion. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 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 Wednesday, January 14th. Investors of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, December 26th. Philip Morris International’s payout ratio is 106.52%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research report on Tuesday, October 21st. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $189.00.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.