Mechanics Bank Trust Department Sells 525 Shares of Philip Morris International Inc. (NYSE:PM)

Mechanics Bank Trust Department decreased its position in Philip Morris International Inc. (NYSE:PM) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,739 shares of the company’s stock after selling 525 shares during the quarter. Mechanics Bank Trust Department’s holdings in Philip Morris International were worth $2,507,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia boosted its holdings in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after acquiring an additional 876,790 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Philip Morris International during the first quarter valued at about $5,634,000. Axxcess Wealth Management LLC grew its holdings in shares of Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $1,251,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Philip Morris International in the fourth quarter valued at $857,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus increased their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America lifted their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.80.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Philip Morris International Stock Down 0.2 %

PM traded down $0.28 during trading on Friday, hitting $116.01. The company’s stock had a trading volume of 3,814,669 shares, compared to its average volume of 5,408,644. The stock has a market capitalization of $180.34 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The firm’s 50 day moving average price is $106.35 and its two-hundred day moving average price is $98.10. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $119.06.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the business posted $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Philip Morris International Inc. will post 6.41 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

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.