Sterling Investment Advisors Ltd. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 41.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 897 shares of the company’s stock after selling 630 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Philip Morris International were worth $70,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Philip Morris International by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after purchasing an additional 183,239 shares during the period. Legacy Advisors LLC boosted its stake in shares of Philip Morris International by 12.4% during the 1st quarter. Legacy Advisors LLC now owns 3,526 shares of the company’s stock valued at $312,000 after buying an additional 388 shares during the period. OmniStar Financial Group Inc. boosted its stake in shares of Philip Morris International by 6.4% during the 1st quarter. OmniStar Financial Group Inc. now owns 20,689 shares of the company’s stock valued at $1,829,000 after buying an additional 1,248 shares during the period. Atwater Malick LLC acquired a new stake in shares of Philip Morris International during the 1st quarter valued at $225,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Philip Morris International during the 1st quarter valued at $6,284,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of NYSE:PM traded down $1.73 during trading on Friday, reaching $81.22. 2,923,273 shares of the company traded hands, compared to its average volume of 4,566,205. The firm has a fifty day simple moving average of $83.53 and a 200 day simple moving average of $83.74. The firm has a market cap of $129.06 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.22 EPS for the current fiscal year.
In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael R. Kunst acquired 500 shares of Philip Morris International 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 disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.
A number of equities research analysts have issued reports on the stock. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International presently has an average rating of “Hold” and an average price target of $93.92.
About Philip Morris International
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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