Farmers Trust Co. Grows Stake in Philip Morris International Inc. (NYSE:PM)

Farmers Trust Co. increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 43,577 shares of the company’s stock after acquiring an additional 687 shares during the quarter. Farmers Trust Co.’s holdings in Philip Morris International were worth $5,290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC lifted its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the last quarter. Sachetta LLC boosted its stake in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its position in shares of Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter valued at about $34,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Philip Morris International stock opened at $118.35 on Friday. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company has a market capitalization of $183.98 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.37 and a beta of 0.55. The stock has a fifty day moving average of $120.36 and a two-hundred day moving average of $106.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business posted $1.60 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.56%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Activity

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PM. Deutsche Bank Aktiengesellschaft boosted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, UBS Group boosted their target price on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.45.

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.