First Citizens Bank & Trust Co. Has $5.60 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

First Citizens Bank & Trust Co. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 46,548 shares of the company’s stock after selling 379 shares during the period. First Citizens Bank & Trust Co.’s holdings in Philip Morris International were worth $5,602,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Valley Wealth Managers Inc. grew its position in 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 purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC grew its position in Philip Morris International by 203.8% in the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners grew its position in Philip Morris International by 2,709.1% in the 3rd quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after purchasing an additional 298 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Philip Morris International in the 3rd quarter worth $54,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Philip Morris International during the 4th quarter worth about $54,000. 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. UBS Group raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. Barclays reduced their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price objective for the company. Finally, Citigroup lifted their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $131.35.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $127.28 on Friday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15. The company has a market capitalization of $197.89 billion, a PE ratio of 20.20, a PEG ratio of 2.01 and a beta of 0.54. The company has a 50 day moving average price of $125.30 and a two-hundred day moving average price of $121.97.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is presently 85.71%.

Philip Morris International Company 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.