First Citizens Bank & Trust Co. Sells 6,120 Shares of Philip Morris International Inc. $PM

First Citizens Bank & Trust Co. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,799 shares of the company’s stock after selling 6,120 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Philip Morris International were worth $7,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Legacy Investment Solutions LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at approximately $25,000. Marquette Asset Management LLC grew its stake in shares of Philip Morris International by 1,677.8% in the third quarter. Marquette Asset Management LLC now owns 160 shares of the company’s stock valued at $26,000 after buying an additional 151 shares in the last quarter. Briaud Financial Planning Inc increased its holdings in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Finally, Estabrook Capital Management bought a new stake in Philip Morris International during the second quarter worth $30,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.8%

Shares of PM stock opened at $173.06 on Friday. Philip Morris International Inc. has a 12-month low of $125.53 and a 12-month high of $186.69. The company has a market capitalization of $269.39 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40. The firm has a 50 day moving average price of $159.22 and a two-hundred day moving average price of $161.48.

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, December 26th were paid a $1.47 dividend. The ex-dividend date was Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.4%. Philip Morris International’s payout ratio is 106.52%.

Analysts Set New Price Targets

PM has been the subject of a number of analyst reports. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Barclays cut their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Thursday. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $184.56.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.