Lakeview Capital Partners LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 26.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,263 shares of the company’s stock after selling 2,640 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Philip Morris International were worth $570,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Financial Inc. bought a new position in Philip Morris International during the 2nd quarter worth approximately $36,000. Brand Asset Management Group Inc. increased its stake in shares of Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after acquiring an additional 122 shares in the last quarter. HMS Capital Management LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at $46,000. Next Capital Management LLC increased its stake in shares of Philip Morris International by 107.4% in the 2nd quarter. Next Capital Management LLC now owns 620 shares of the company’s stock valued at $49,000 after acquiring an additional 321 shares in the last quarter. Finally, Shamrock Asset Management LLC increased its stake in shares of Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.
PM stock traded down $2.14 during midday trading on Tuesday, reaching $82.87. 75,921 shares of the company’s stock traded hands, compared to its average volume of 4,786,219. The company has a market cap of $130.57 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 2.08 and a beta of 0.96. The firm’s fifty day moving average price is $83.28 and its 200-day moving average price is $83.60. 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 announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. Philip Morris International’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 EPS. On average, equities research analysts anticipate that Philip Morris International Inc. will post 5.21 earnings per share for the current year.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Morgan Stanley lowered 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. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $93.92.
In other news, VP Michael R. Kunst acquired 500 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available through this hyperlink. Also, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction on Tuesday, July 23rd. The stock was 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. Insiders own 0.21% of the company’s stock.
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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