Nippon Life Insurance Co. Reduces Stake in Philip Morris International Inc (NYSE:PM)

Nippon Life Insurance Co. lowered its position in Philip Morris International Inc (NYSE:PM) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,479 shares of the company’s stock after selling 10,270 shares during the quarter. Nippon Life Insurance Co.’s holdings in Philip Morris International were worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Amerigo Asset Management purchased a new stake in shares of Philip Morris International in the second quarter valued at $209,061,000. Canada Pension Plan Investment Board lifted its position in shares of Philip Morris International by 60.4% in the second quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock valued at $393,846,000 after acquiring an additional 1,262,200 shares in the last quarter. C WorldWide Group Holding A S lifted its position in Philip Morris International by 70.9% during the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock worth $341,770,000 after buying an additional 1,255,776 shares during the period. Swiss National Bank lifted its position in Philip Morris International by 26.2% during the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after buying an additional 1,189,800 shares during the period. Finally, State Street Corp lifted its position in Philip Morris International by 1.8% during the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the period. Institutional investors and hedge funds own 72.25% of the company’s stock.

A number of equities analysts have recently commented on PM shares. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Wells Fargo & Company reiterated an “outperform” rating and issued a $140.00 target price on shares of Philip Morris International in a research report on Tuesday, October 10th. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) raised Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a report on Thursday, September 28th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $125.00 target price (down previously from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.62.

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Philip Morris International Inc (NYSE:PM) opened at $103.02 on Friday. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55. The firm has a market capitalization of $160,010.97, a PE ratio of 22.94, a P/E/G ratio of 2.08 and a beta of 0.91. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. analysts forecast that Philip Morris International Inc will post 4.76 earnings per share for the current fiscal year.

In related news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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

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