Holderness Investments Co. Has $315,000 Position in Philip Morris International Inc. (NYSE:PM)

Holderness Investments Co. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,006 shares of the company’s stock after selling 158 shares during the quarter. Holderness Investments Co.’s holdings in Philip Morris International were worth $315,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Ellis Investment Partners LLC boosted its holdings in shares of 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 purchasing an additional 682,300 shares in the last quarter. Pendal Group Ltd boosted its holdings in shares of Philip Morris International by 31.5% in the 2nd quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock valued at $187,959,000 after purchasing an additional 637,613 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Philip Morris International by 40.3% in the 2nd quarter. First Trust Advisors LP now owns 1,593,712 shares of the company’s stock valued at $125,154,000 after purchasing an additional 457,597 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Philip Morris International by 7,753.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 443,223 shares of the company’s stock valued at $44,322,000 after purchasing an additional 437,579 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc boosted its holdings in shares of Philip Morris International by 31.0% in the 2nd quarter. Schafer Cullen Capital Management Inc now owns 1,775,596 shares of the company’s stock valued at $145,404,000 after purchasing an additional 420,020 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on PM. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and raised their target price for the company from $81.00 to $94.00 in a report on Friday, May 17th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $82.00 to $100.00 in a report on Friday, July 19th. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. 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 company currently has an average rating of “Hold” and a consensus price target of $93.92.

Shares of NYSE PM traded up $0.42 during mid-day trading on Friday, hitting $84.91. 3,257,800 shares of the stock traded hands, compared to its average volume of 5,470,064. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74. The company has a market cap of $129.65 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. The firm has a 50 day simple moving average of $82.88 and a two-hundred day simple moving average of $83.58.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter last year, the business posted $1.41 EPS. Philip Morris International’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that Philip Morris International Inc. will post 5.21 EPS for the current year.

In related news, VP Michael R. Kunst bought 500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $80.74 per share, with a total value of $40,370.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction on 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. Company insiders own 0.21% of the company’s stock.

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

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