First Citizens Bank & Trust Co. Sells 6,120 Shares of Philip Morris International Inc. $PM

First Citizens Bank & Trust Co. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,799 shares of the company’s stock after selling 6,120 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Philip Morris International were worth $7,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. PFS Partners LLC boosted its stake in shares of Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares during the period. Uncommon Cents Investing LLC raised its holdings in Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after acquiring an additional 61 shares in the last quarter. Second Line Capital LLC lifted its position in shares of Philip Morris International by 4.8% during the 2nd quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after acquiring an additional 61 shares during the period. Meridian Wealth Partners LLC grew its holdings in shares of Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock worth $375,000 after purchasing an additional 62 shares in the last quarter. Finally, Bernardo Wealth Planning LLC grew its holdings in shares of Philip Morris International by 1.8% during the 2nd quarter. Bernardo Wealth Planning LLC now owns 3,584 shares of the company’s stock worth $653,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Thursday. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research note on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.56.

Philip Morris International Trading Up 1.8%

PM opened at $173.06 on Friday. The company has a market cap of $269.39 billion, a P/E ratio of 31.35, a PEG ratio of 1.86 and a beta of 0.40. The company’s 50 day moving average is $159.22 and its 200-day moving average is $161.48. Philip Morris International Inc. has a 1-year low of $125.53 and a 1-year high of $186.69.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were given a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a yield of 3.4%. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Philip Morris International Profile

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.