National Asset Management Inc. raised its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,499 shares of the company’s stock after buying an additional 3,243 shares during the quarter. National Asset Management Inc.’s holdings in Philip Morris International were worth $2,007,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PM. Dimensional Fund Advisors LP grew its stake in shares of Philip Morris International by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock valued at $193,823,000 after purchasing an additional 183,239 shares during the period. Legacy Advisors LLC raised its position in shares of Philip Morris International by 12.4% in the 1st quarter. Legacy Advisors LLC now owns 3,526 shares of the company’s stock worth $312,000 after purchasing an additional 388 shares during the last quarter. Burke & Herbert Bank & Trust Co. raised its position in shares of Philip Morris International by 2.0% in the 1st quarter. Burke & Herbert Bank & Trust Co. now owns 20,231 shares of the company’s stock worth $1,788,000 after purchasing an additional 400 shares during the last quarter. Bank of The West raised its position in shares of Philip Morris International by 1.4% in the 1st quarter. Bank of The West now owns 28,660 shares of the company’s stock worth $2,534,000 after purchasing an additional 388 shares during the last quarter. Finally, Riverview Trust Co raised its position in shares of Philip Morris International by 14.0% in the 1st quarter. Riverview Trust Co now owns 1,598 shares of the company’s stock worth $141,000 after purchasing an additional 196 shares during the last quarter. 74.33% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on PM shares. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. 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 report on Friday, July 12th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Bank of America upgraded Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $81.00 to $94.00 in a report on Friday, May 17th. Finally, Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $93.92.
In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael R. Kunst purchased 500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were 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. Insiders own 0.21% of the company’s stock.
NYSE PM traded down $2.12 during trading hours on Tuesday, hitting $82.89. The company’s stock had a trading volume of 135,326 shares, compared to its average volume of 4,786,219. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The company’s 50 day simple moving average is $83.28 and its two-hundred day simple moving average is $83.60. The company has a market cap of $130.57 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down .3% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current 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.
Further Reading: How do buyers and sellers choose a strike price?
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.