Shelter Mutual Insurance Co Reduces Position in Philip Morris International Inc. (NYSE:PM)

Shelter Mutual Insurance Co cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,380 shares of the company’s stock after selling 6,140 shares during the quarter. Philip Morris International makes up approximately 1.4% of Shelter Mutual Insurance Co’s portfolio, making the stock its 29th largest holding. Shelter Mutual Insurance Co’s holdings in Philip Morris International were worth $5,056,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Willingdon Wealth Management grew its holdings in shares of Philip Morris International by 0.9% in the second quarter. Willingdon Wealth Management now owns 13,656 shares of the company’s stock worth $1,072,000 after purchasing an additional 119 shares during the last quarter. Montag A & Associates Inc. grew its holdings in shares of Philip Morris International by 0.6% in the first quarter. Montag A & Associates Inc. now owns 18,782 shares of the company’s stock worth $1,660,000 after purchasing an additional 120 shares during the last quarter. NBT Bank N A NY grew its holdings in shares of Philip Morris International by 0.3% in the first quarter. NBT Bank N A NY now owns 41,531 shares of the company’s stock worth $3,671,000 after purchasing an additional 120 shares during the last quarter. Brand Asset Management Group Inc. grew its holdings in shares of Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after purchasing an additional 122 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A grew its holdings in shares of Philip Morris International by 0.8% in the first quarter. OLD Point Trust & Financial Services N A now owns 15,397 shares of the company’s stock worth $1,361,000 after purchasing an additional 125 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 price 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 owned by insiders.

Several analysts recently weighed in on the stock. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $82.00 to $100.00 in a report on Friday, July 19th. Wells Fargo & Co set a $102.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Finally, Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $81.00 to $94.00 in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Philip Morris International presently has an average rating of “Hold” and an average target price of $93.92.

Shares of PM traded up $1.13 during trading hours on Thursday, hitting $84.46. The company had a trading volume of 123,668 shares, compared to its average volume of 5,210,903. The company’s fifty day moving average is $82.61. The stock has a market capitalization of $128.19 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Research analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.

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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