Philip Morris International Inc. (NYSE:PM) Shares Bought by Farmers Trust Co.

Farmers Trust Co. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,574 shares of the company’s stock after acquiring an additional 9,162 shares during the quarter. Philip Morris International comprises about 1.6% of Farmers Trust Co.’s holdings, making the stock its 12th largest position. Farmers Trust Co.’s holdings in Philip Morris International were worth $8,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PM. Capital & Planning LLC increased its stake in shares of Philip Morris International by 7.1% during the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after acquiring an additional 173 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Philip Morris International during the 4th quarter worth about $93,000. Revolve Wealth Partners LLC grew its holdings in shares of Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after purchasing an additional 91 shares during the period. Finally, Perigon Wealth Management LLC grew its holdings in shares of Philip Morris International by 17.8% during the 4th quarter. Perigon Wealth Management LLC now owns 14,027 shares of the company’s stock worth $1,680,000 after purchasing an additional 2,119 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

PM has been the subject of a number of research reports. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Finally, Citigroup boosted their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Philip Morris International Stock Down 0.6%

NYSE PM opened at $177.79 on Friday. The stock has a market cap of $276.73 billion, a PE ratio of 39.42, a P/E/G ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $179.83. The business has a 50 day moving average price of $164.70 and a two-hundred day moving average price of $145.23.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. Philip Morris International’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 111.34%.

Insider Activity

In other news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now directly owns 26,828 shares in the company, valued at approximately $4,103,610.88. This represents a 12.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

About Philip Morris International

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.