First County Bank CT Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

First County Bank CT decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.0% during the third quarter, HoldingsChannel reports. The fund owned 24,437 shares of the company’s stock after selling 3,985 shares during the quarter. Philip Morris International accounts for approximately 1.5% of First County Bank CT’s investment portfolio, making the stock its 15th largest holding. First County Bank CT’s holdings in Philip Morris International were worth $2,967,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 49 Wealth Management LLC boosted its stake in Philip Morris International by 3.6% during the third quarter. 49 Wealth Management LLC now owns 2,432 shares of the company’s stock worth $295,000 after buying an additional 84 shares during the period. Woodmont Investment Counsel LLC lifted its holdings in shares of Philip Morris International by 1.6% in the 3rd quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after acquiring an additional 86 shares during the last quarter. YHB Investment Advisors Inc. boosted its position in shares of Philip Morris International by 4.2% during the 3rd quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock worth $262,000 after purchasing an additional 87 shares during the period. Longfellow Investment Management Co. LLC increased its holdings in Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.7 %

Shares of Philip Morris International stock opened at $131.26 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The firm’s 50 day moving average is $124.68 and its two-hundred day moving average is $114.39. The firm has a market capitalization of $204.09 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.27 and a beta of 0.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the business posted $1.67 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts expect that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PM shares. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.50.

Insider Activity at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.