Securian Asset Management Inc grew its stake in Philip Morris International Inc. (NYSE:PM) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,201 shares of the company’s stock after buying an additional 1,433 shares during the period. Securian Asset Management Inc’s holdings in Philip Morris International were worth $12,738,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PM. Ellis Investment Partners LLC grew its stake in 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 worth $690,000 after buying an additional 682,300 shares in the last quarter. Pendal Group Ltd grew its stake in Philip Morris International by 31.5% in the 2nd quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock worth $187,959,000 after buying an additional 637,613 shares in the last quarter. First Trust Advisors LP grew its stake in 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 worth $125,154,000 after buying an additional 457,597 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in 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 worth $44,322,000 after buying an additional 437,579 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc grew its stake in 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 worth $145,404,000 after buying an additional 420,020 shares in the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.
PM has been the subject of a number of research reports. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Morgan Stanley cut their price objective 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, ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $93.92.
Shares of Philip Morris International stock traded down $2.15 during trading on Tuesday, reaching $82.86. The company’s stock had a trading volume of 1,361,560 shares, compared to its average volume of 4,786,219. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74. The company has a market cap of $130.57 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.08 and a beta of 0.96. The firm’s 50-day moving average is $83.28 and its two-hundred day moving average is $83.60.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
In other news, VP Michael R. Kunst purchased 500 shares of the company’s stock in a transaction 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 acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mario Masseroli sold 1,100 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.
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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