Philip Morris International Inc. (NYSE:PM) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,141 shares of the company's stock after selling 4,407 shares during the period. First Citizens Bank & Trust Co.'s holdings in Philip Morris International were worth $6,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC increased its holdings in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after buying an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $33,000. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Knuff & Co LLC acquired a new stake in Philip Morris International during the fourth quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in Philip Morris International during the fourth quarter worth approximately $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Philip Morris International stock traded up $0.61 during mid-day trading on Thursday, reaching $183.98. 5,616,413 shares of the company were exchanged, compared to its average volume of 5,604,940. The firm's 50-day simple moving average is $169.29 and its two-hundred day simple moving average is $148.50. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $184.03. The firm has a market cap of $286.37 billion, a PE ratio of 40.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the company earned $1.50 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on PM. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus raised their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Needham & Company LLC started coverage on Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.30.

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.