Farmers Trust Co. Sells 165 Shares of Philip Morris International Inc. (NYSE:PM)

Farmers Trust Co. cut its stake in Philip Morris International Inc. (NYSE:PM) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,412 shares of the company’s stock after selling 165 shares during the quarter. Farmers Trust Co.’s holdings in Philip Morris International were worth $5,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. grew its position in shares of Philip Morris International by 457.5% during the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after acquiring an additional 183 shares during the period. Dunhill Financial LLC increased its stake in shares of 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 in the last quarter. Finally, Concord Wealth Partners raised its holdings 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 period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PM. Barclays cut their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group boosted their price objective on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Stock Performance

Shares of NYSE:PM remained flat at $121.40 during midday trading on Wednesday. 2,119,178 shares of the company were exchanged, compared to its average volume of 3,729,667. The firm has a market capitalization of $188.76 billion, a PE ratio of 19.27, a PEG ratio of 2.22 and a beta of 0.54. The company’s 50 day moving average is $127.03 and its two-hundred day moving average is $120.45. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.67 EPS. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Thursday, December 26th. Philip Morris International’s dividend payout ratio is presently 85.71%.

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.