First County Bank CT Sells 2,064 Shares of Philip Morris International Inc. (NYSE:PM)

First County Bank CT lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,552 shares of the company's stock after selling 2,064 shares during the period. Philip Morris International accounts for 1.7% of First County Bank CT's portfolio, making the stock its 11th largest holding. First County Bank CT's holdings in Philip Morris International were worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Capital & Planning LLC raised its holdings in Philip Morris International by 7.1% during the 4th quarter. Capital & Planning LLC now owns 2,613 shares of the company's stock worth $318,000 after buying an additional 173 shares during the period. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Philip Morris International during the fourth quarter worth $93,000. Revolve Wealth Partners LLC raised its holdings in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after acquiring an additional 91 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in Philip Morris International by 17.8% in the 4th quarter. Perigon Wealth Management LLC now owns 14,027 shares of the company's stock worth $1,680,000 after purchasing an additional 2,119 shares during the period. Institutional investors own 78.63% of the company's stock.

Insider Activity

In related news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now owns 26,828 shares of the company's stock, valued at $4,103,610.88. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PM shares. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. 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 note on Thursday, April 24th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Stifel Nicolaus upped their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $169.20.

Philip Morris International Trading Up 1.6%

Philip Morris International stock traded up $2.87 during mid-day trading on Friday, reaching $180.74. The company had a trading volume of 8,505,072 shares, compared to its average volume of 5,626,797. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $181.36. The company has a market cap of $281.32 billion, a P/E ratio of 40.08, a P/E/G ratio of 2.65 and a beta of 0.50. The business has a fifty day simple moving average of $165.26 and a 200 day simple moving average of $145.77.

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

Philip Morris International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, March 20th. Philip Morris International's payout ratio is currently 111.34%.

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.