First Citizens Financial Corp Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)


Share on StockTwits

First Citizens Financial Corp decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 13.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,323 shares of the company’s stock after selling 375 shares during the quarter. First Citizens Financial Corp’s holdings in Philip Morris International were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Wealth Alliance boosted its holdings in shares of Philip Morris International by 28.1% in the third quarter. Wealth Alliance now owns 21,004 shares of the company’s stock worth $1,575,000 after buying an additional 4,606 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Philip Morris International by 59.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 25,234 shares of the company’s stock worth $1,892,000 after buying an additional 9,447 shares during the last quarter. Westover Capital Advisors LLC purchased a new position in shares of Philip Morris International in the third quarter worth approximately $225,000. IHT Wealth Management LLC boosted its holdings in shares of Philip Morris International by 12.9% in the third quarter. IHT Wealth Management LLC now owns 8,697 shares of the company’s stock worth $652,000 after buying an additional 997 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Philip Morris International by 1.3% in the third quarter. Kingsview Wealth Management LLC now owns 10,888 shares of the company’s stock worth $816,000 after buying an additional 138 shares during the last quarter. 74.18% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Tuesday, January 12th. JPMorgan Chase & Co. upgraded shares of Philip Morris International from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $81.00 to $105.00 in a research note on Friday. Morgan Stanley raised their target price on shares of Philip Morris International from $94.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 3rd. Edward Jones cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 15th. Finally, Sanford C. Bernstein assumed coverage on shares of Philip Morris International in a research note on Tuesday, January 19th. They set a “market perform” rating and a $92.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $98.25.

In related news, VP Marian Salzman sold 2,000 shares of the business’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $84.39, for a total value of $168,780.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Shares of PM opened at $91.07 on Monday. The company’s fifty day moving average is $87.53 and its 200 day moving average is $81.29. Philip Morris International Inc. has a fifty-two week low of $66.85 and a fifty-two week high of $91.25. The stock has a market capitalization of $141.93 billion, a PE ratio of 18.44, a P/E/G ratio of 2.27 and a beta of 0.77.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 4th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.05. Philip Morris International had a net margin of 10.07% and a negative return on equity of 78.02%. The company had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the previous year, the business posted $1.22 earnings per share. Philip Morris International’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts anticipate that Philip Morris International Inc. will post 5.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 9th. Investors of record on Monday, March 22nd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend was Friday, March 19th. Philip Morris International’s dividend payout ratio is presently 92.49%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, smoke-free products, and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Creations, HEETS Dimensions, HEETS Marlboro, HEETS FROM MARLBORO, Marlboro Dimensions, Marlboro HeatSticks, and Parliament HeatSticks brands, as well as under the Fiit and Miix licensed brands.

Further Reading: Trading Halts Explained

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.