First Citizens Bank & Trust Co. Sells 4,407 Shares of Philip Morris International Inc. (NYSE:PM)

First Citizens Bank & Trust Co. cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,141 shares of the company's stock after selling 4,407 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Philip Morris International were worth $6,689,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Lloyd Advisory Services LLC. grew its holdings in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock valued at $323,000 after purchasing an additional 64 shares during the last quarter. Omnia Family Wealth LLC raised its position in Philip Morris International by 1.7% during the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after purchasing an additional 65 shares during the last quarter. Meridian Wealth Partners LLC grew its holdings in Philip Morris International by 4.1% in the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock worth $214,000 after purchasing an additional 70 shares during the period. NewSquare Capital LLC increased its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Finally, Chesley Taft & Associates LLC lifted its holdings in shares of Philip Morris International by 1.1% during the first quarter. Chesley Taft & Associates LLC now owns 6,502 shares of the company's stock valued at $1,032,000 after purchasing an additional 72 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Bank of America increased 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. JPMorgan Chase & Co. raised their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Citigroup upped their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Stock Down 0.6%

NYSE PM traded down $1.11 during trading on Monday, hitting $180.62. 3,101,893 shares of the stock traded hands, compared to its average volume of 6,161,432. The firm has a 50-day simple moving average of $167.81 and a 200-day simple moving average of $147.69. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $183.94. The company has a market capitalization of $281.13 billion, a P/E ratio of 40.05, 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 data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

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.