FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 170 Shares of Philip Morris International Inc. (NYSE:PM)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Philip Morris International Inc. (NYSE:PM) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 8,557 shares of the company’s stock after purchasing an additional 170 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Philip Morris International were worth $1,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optimist Retirement Group LLC purchased a new stake in Philip Morris International in the fourth quarter worth approximately $1,082,000. Burford Brothers Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at $540,000. Quarry LP grew its holdings in shares of Philip Morris International by 307.5% during the 4th quarter. Quarry LP now owns 436 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the last quarter. Sunpointe LLC purchased a new position in Philip Morris International in the 4th quarter worth $480,000. Finally, GLOBALT Investments LLC GA bought a new stake in Philip Morris International in the fourth quarter worth $2,830,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Stifel Nicolaus lifted their price target on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group increased their price objective on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Bank of America lifted their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup raised their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $122.41.

Philip Morris International Trading Up 0.6 %

NYSE:PM opened at $120.14 on Friday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The company has a 50-day moving average price of $120.84 and a 200-day moving average price of $107.38. The stock has a market cap of $186.79 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.35 and a beta of 0.55.

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

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.49%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 95.58%.

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.