Capital City Trust Co. FL Cuts Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Capital City Trust Co. FL reduced its stake in Philip Morris International by 20.6%, dropping to 14,227 shares valued at $2,258,000 after selling 3,700 shares in the first quarter.
• Several analysts have raised their price targets for Philip Morris International, with Bank of America increasing theirs from $182.00 to $200.00 and Stifel Nicolaus adjusting from $168.00 to $186.00, maintaining a “buy” rating.
• Philip Morris International reported earnings per share (EPS) of $1.91, beating estimates by $0.05, while its quarterly revenue was $10.14 billion, falling short of the $10.33 billion consensus estimate.

Capital City Trust Co. FL lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 20.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,227 shares of the company's stock after selling 3,700 shares during the quarter. Capital City Trust Co. FL's holdings in Philip Morris International were worth $2,258,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. TCW Group Inc. increased its stake in Philip Morris International by 5.7% in the first quarter. TCW Group Inc. now owns 23,005 shares of the company's stock valued at $3,652,000 after acquiring an additional 1,234 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in shares of Philip Morris International in the 1st quarter worth about $210,000. Sterling Investment Advisors Ltd. bought a new position in shares of Philip Morris International during the 1st quarter valued at about $264,000. LPL Financial LLC increased its position in shares of Philip Morris International by 5.1% during the 1st quarter. LPL Financial LLC now owns 2,326,450 shares of the company's stock valued at $369,277,000 after purchasing an additional 113,152 shares during the last quarter. Finally, Peak Asset Management LLC purchased a new position in shares of Philip Morris International during the 1st quarter valued at about $232,000. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PM. Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Stifel Nicolaus upped their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. UBS Group boosted their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Philip Morris International in a research note on Tuesday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Trading Down 0.1%

Shares of NYSE:PM opened at $160.92 on Friday. The company has a 50-day moving average price of $178.86 and a 200-day moving average price of $160.40. The company has a market cap of $250.47 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. Philip Morris International Inc. has a 12 month low of $112.43 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 10.57%. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.59 EPS. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.36%. Philip Morris International's dividend payout ratio is presently 102.66%.

Philip Morris International Company 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.

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