Gabelli Funds LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,000 shares of the company’s stock after selling 6,000 shares during the quarter. Gabelli Funds LLC’s holdings in Philip Morris International were worth $4,406,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in shares of Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock valued at $14,791,000 after acquiring an additional 36,357 shares during the period. Schroder Investment Management Group boosted its position in shares of Philip Morris International by 53.0% in the third quarter. Schroder Investment Management Group now owns 5,916,842 shares of the company’s stock valued at $482,460,000 after acquiring an additional 2,048,754 shares during the period. JGP Wealth Management LLC boosted its position in shares of Philip Morris International by 19.8% in the third quarter. JGP Wealth Management LLC now owns 3,041 shares of the company’s stock valued at $249,000 after acquiring an additional 502 shares during the period. First Foundation Advisors boosted its position in shares of Philip Morris International by 6.4% in the third quarter. First Foundation Advisors now owns 399,496 shares of the company’s stock valued at $32,575,000 after acquiring an additional 23,947 shares during the period. Finally, Bristol Advisors LLC bought a new stake in shares of Philip Morris International in the third quarter valued at approximately $212,000. 73.17% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on PM. Citigroup upped their target price on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 19th. Piper Jaffray Companies set a $110.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Monday, December 3rd. Morgan Stanley cut their target price on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, January 8th. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Finally, Societe Generale set a $95.00 target price on Philip Morris International and gave the company a “hold” rating in a research note on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $91.25.
In other news, Director Louis C. Camilleri sold 59,495 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by corporate insiders.
Shares of PM stock opened at $79.98 on Monday. The firm has a market cap of $124.34 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $109.90.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.46 billion. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, research analysts expect that Philip Morris International Inc. will post 5.38 EPS for the current fiscal year.
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Philip Morris International Company 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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