Van ECK Associates Corp increased its position in Philip Morris International Inc. (NYSE:PM) by 11.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 790,477 shares of the company’s stock after purchasing an additional 83,705 shares during the period. Van ECK Associates Corp owned 0.05% of Philip Morris International worth $62,076,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Dupont Capital Management Corp grew its stake in Philip Morris International by 39.3% in the second quarter. Dupont Capital Management Corp now owns 194,221 shares of the company’s stock worth $15,252,000 after purchasing an additional 54,796 shares during the period. Capital Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter worth $234,000. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Philip Morris International by 11.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,230 shares of the company’s stock worth $43,838,000 after acquiring an additional 57,445 shares during the last quarter. Keystone Financial Group grew its stake in shares of Philip Morris International by 1.0% in the first quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock worth $1,460,000 after acquiring an additional 165 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Philip Morris International by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 84,991 shares of the company’s stock worth $6,675,000 after acquiring an additional 961 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on PM shares. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $81.00 to $94.00 in a research note on Friday, May 17th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $93.92.
Shares of NYSE:PM traded down $1.73 during midday trading on Friday, reaching $81.22. 2,923,273 shares of the company’s stock traded hands, compared to its average volume of 4,566,205. The company has a market cap of $129.06 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 2.02 and a beta of 0.96. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The stock has a 50 day moving average of $83.53 and a 200 day moving average of $83.74.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. Equities research analysts anticipate that Philip Morris International Inc. will post 5.22 EPS for the current fiscal year.
In other Philip Morris International news, VP Michael R. Kunst purchased 500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $80.74 per share, with a total value of $40,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mario Masseroli sold 1,100 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Philip Morris International 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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