First Citizens Bank & Trust Co. Raises Stake in Philip Morris International Inc. $PM

Key Points

• First Citizens Bank & Trust Co. increased its stake in Philip Morris International Inc. by 18.5% in Q2, holding nearly 50,000 shares valued at over $9 million.
• Philip Morris has raised its quarterly dividend from $1.35 to $1.47 per share, reflecting a dividend yield of 3.7% and a payout ratio of 106.52%.
• A consensus of analysts rates Philip Morris stock as a "Moderate Buy," with target prices ranging from $166 to $194, reflecting varied outlooks on the company's performance.

First Citizens Bank & Trust Co. lifted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 18.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,919 shares of the company's stock after buying an additional 7,778 shares during the period. First Citizens Bank & Trust Co.'s holdings in Philip Morris International were worth $9,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PFS Partners LLC grew its stake in shares of Philip Morris International by 24.8% in the 2nd quarter. PFS Partners LLC now owns 292 shares of the company's stock valued at $53,000 after purchasing an additional 58 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after buying an additional 60 shares during the period. TBH Global Asset Management LLC raised its position in Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after buying an additional 61 shares during the last quarter. Uncommon Cents Investing LLC lifted its stake in shares of Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock worth $1,032,000 after acquiring an additional 61 shares during the period. Finally, NFP Retirement Inc. boosted its holdings in shares of Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after acquiring an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Philip Morris International stock opened at $157.41 on Thursday. The firm has a market capitalization of $245.02 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. The stock's 50 day moving average price is $162.64 and its 200 day moving average price is $168.72. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.17%. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. Philip Morris International's dividend payout ratio (DPR) is currently 106.52%.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Jefferies Financial Group began coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Philip Morris International in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.