Mitsubishi UFJ Trust & Banking Corp lifted its position in Philip Morris International Inc. (NYSE:PM) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,298,998 shares of the company’s stock after buying an additional 10,583 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Philip Morris International worth $101,218,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dupont Capital Management Corp boosted its position in Philip Morris International by 39.3% during 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 bought a new stake in Philip Morris International during the first quarter worth approximately $234,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in Philip Morris International by 11.5% during 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 purchasing an additional 57,445 shares during the period. Keystone Financial Group boosted its position in Philip Morris International by 1.0% during the first quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock worth $1,460,000 after purchasing an additional 165 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Philip Morris International by 1.1% during the second quarter. Daiwa Securities Group Inc. now owns 84,991 shares of the company’s stock worth $6,675,000 after purchasing an additional 961 shares during the period. 74.33% of the stock is owned by institutional investors and hedge funds.
Shares of PM traded down $1.73 during mid-day trading on Friday, hitting $81.22. The company’s stock had a trading volume of 2,923,273 shares, compared to its average volume of 4,566,205. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The firm has a market capitalization of $129.06 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.02 and a beta of 0.96. The stock’s 50-day moving average is $83.53 and its two-hundred day moving average is $83.74.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the prior year, the business earned $1.41 earnings per share. Philip Morris International’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts expect that Philip Morris International Inc. will post 5.22 earnings per share for the current fiscal year.
PM has been the subject of a number of recent analyst reports. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Morgan Stanley reduced their price objective on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $93.92.
In related news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael R. Kunst bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased 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 currently owned by corporate insiders.
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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