Mechanics Bank Trust Department Has $2.32 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Mechanics Bank Trust Department raised its position in shares of Philip Morris International Inc. (NYSE:PMFree Report) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,264 shares of the company’s stock after purchasing an additional 3,715 shares during the period. Mechanics Bank Trust Department’s holdings in Philip Morris International were worth $2,315,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in Philip Morris International in the first quarter valued at approximately $73,000. Capital Advisors Wealth Management LLC acquired a new stake in shares of Philip Morris International in the 1st quarter valued at $256,000. Strong Tower Advisory Services boosted its holdings in Philip Morris International by 18.6% in the first quarter. Strong Tower Advisory Services now owns 9,429 shares of the company’s stock worth $862,000 after purchasing an additional 1,476 shares in the last quarter. Austin Private Wealth LLC increased its position in Philip Morris International by 8.6% during the first quarter. Austin Private Wealth LLC now owns 3,288 shares of the company’s stock worth $299,000 after buying an additional 260 shares during the last quarter. Finally, Capital Planning LLC bought a new position in Philip Morris International during the first quarter valued at about $223,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the completion of the transaction, the insider now directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Stock Down 0.2 %

Philip Morris International stock traded down $0.18 during mid-day trading on Tuesday, reaching $101.69. The company had a trading volume of 1,758,542 shares, compared to its average volume of 5,462,830. The company has a 50 day moving average of $99.24 and a 200-day moving average of $94.69. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $104.90. The firm has a market cap of $158.08 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.05 and a beta of 0.57.

Philip Morris International (NYSE:PMGet Free Report) last released its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The business had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.38 earnings per share. On average, analysts predict that Philip Morris International Inc. will post 6.32 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 21st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.11%. Philip Morris International’s payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Argus reissued a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.22.

Read Our Latest Stock Analysis on Philip Morris International

Philip Morris International Profile

(Free Report)

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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