Sequoia Financial Advisors LLC cut its position in Philip Morris International Inc. (NYSE:PM) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,424 shares of the company’s stock after selling 217 shares during the period. Sequoia Financial Advisors LLC’s holdings in Philip Morris International were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dupont Capital Management Corp raised its holdings in Philip Morris International by 39.3% in the 2nd quarter. Dupont Capital Management Corp now owns 194,221 shares of the company’s stock valued at $15,252,000 after acquiring an additional 54,796 shares in the last quarter. Capital Wealth Management LLC acquired a new position in Philip Morris International in the 1st quarter valued at $234,000. Keystone Financial Group raised its holdings in Philip Morris International by 1.0% in the 1st quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock valued at $1,460,000 after acquiring an additional 165 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Philip Morris International by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 84,991 shares of the company’s stock valued at $6,675,000 after acquiring an additional 961 shares in the last quarter. Finally, Ellis Investment Partners LLC raised its holdings in Philip Morris International by 8,799.3% in the 1st quarter. Ellis Investment Partners LLC now owns 690,054 shares of the company’s stock valued at $690,000 after acquiring an additional 682,300 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.
In other news, VP Michael R. Kunst bought 500 shares of the stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $80.74 per share, with a total value of $40,370.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
Shares of Philip Morris International stock traded down $0.46 during trading on Wednesday, reaching $83.49. 61,242 shares of the company’s stock were exchanged, compared to its average volume of 5,398,610. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The stock has a market cap of $129.76 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.02 and a beta of 0.96. The company has a 50-day simple moving average of $82.51.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. Philip Morris International’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $81.00 to $94.00 in a report on Friday, May 17th. Morgan Stanley lowered their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $93.92.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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