Amerigo Asset Management Lowers Stake in Philip Morris International (PM)

Amerigo Asset Management cut its position in shares of Philip Morris International (NYSE:PM) by 11.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,274,000 shares of the company’s stock after selling 290,000 shares during the quarter. Philip Morris International accounts for 28.5% of Amerigo Asset Management’s portfolio, making the stock its 2nd largest position. Amerigo Asset Management’s holdings in Philip Morris International were worth $226,036,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PM. Ledyard National Bank boosted its stake in shares of Philip Morris International by 2.3% during the 4th quarter. Ledyard National Bank now owns 20,224 shares of the company’s stock worth $2,137,000 after acquiring an additional 464 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Philip Morris International by 3.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 15,454 shares of the company’s stock worth $1,633,000 after acquiring an additional 492 shares in the last quarter. Cibc Bank USA boosted its stake in shares of Philip Morris International by 1.1% during the 4th quarter. Cibc Bank USA now owns 47,224 shares of the company’s stock worth $4,989,000 after acquiring an additional 493 shares in the last quarter. DF Dent & Co. Inc. boosted its stake in shares of Philip Morris International by 14.0% during the 4th quarter. DF Dent & Co. Inc. now owns 4,027 shares of the company’s stock worth $425,000 after acquiring an additional 494 shares in the last quarter. Finally, Maryland Capital Management boosted its stake in shares of Philip Morris International by 1.7% during the 4th quarter. Maryland Capital Management now owns 29,249 shares of the company’s stock worth $3,090,000 after acquiring an additional 499 shares in the last quarter. Institutional investors own 72.70% of the company’s stock.

Shares of Philip Morris International opened at $80.75 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $125.74 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.88. The company has a quick ratio of 0.68, a current ratio of 1.16 and a debt-to-equity ratio of -2.82. Philip Morris International has a 12 month low of $79.40 and a 12 month high of $123.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, April 19th. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.12. The business had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $7.03 billion. Philip Morris International had a negative return on equity of 72.40% and a net margin of 7.50%. Philip Morris International’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. analysts predict that Philip Morris International will post 5.23 earnings per share for the current fiscal year.

In related news, insider Marc S. Firestone sold 13,650 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the completion of the sale, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Andre Calantzopoulos sold 49,000 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the sale, the chief executive officer now owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The disclosure for this sale can be found here. In the last ninety days, insiders bought 49,000 shares of company stock valued at $3,989,640 and sold 162,650 shares valued at $14,713,540. Company insiders own 0.22% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Morgan Stanley raised their price objective on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Jefferies Group raised Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Friday, January 19th. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Deutsche Bank assumed coverage on Philip Morris International in a research note on Tuesday, April 10th. They set a “buy” rating and a $120.00 price objective for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Philip Morris International has an average rating of “Hold” and an average price target of $116.86.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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