Mechanics Bank Trust Department Sells 2,653 Shares of Philip Morris International Inc. (NYSE:PM)

Mechanics Bank Trust Department reduced its position in Philip Morris International Inc. (NYSE:PM) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,979 shares of the company’s stock after selling 2,653 shares during the quarter. Mechanics Bank Trust Department’s holdings in Philip Morris International were worth $2,645,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. raised its stake in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after buying an additional 183 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares during the period. Concord Wealth Partners grew its holdings in shares of Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after buying an additional 298 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Philip Morris International during the third quarter valued at $54,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Philip Morris International in the 4th quarter worth $54,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the 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 transaction, the insider now owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped 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. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday. They issued an “overweight” rating and a $140.00 price objective on the stock. Finally, Barclays cut their target price 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to 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 Up 1.7 %

PM opened at $121.88 on Monday. Philip Morris International Inc. has a 52-week low of $87.82 and a 52-week high of $134.15. The firm’s fifty day simple moving average is $125.50 and its two-hundred day simple moving average is $121.33. The company has a market cap of $189.51 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.86 and a beta of 0.54.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 6.51 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

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.