Mycio Wealth Partners LLC trimmed its stake in Philip Morris International Inc. (NYSE:PM) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,768 shares of the company’s stock after selling 217 shares during the period. Mycio Wealth Partners LLC’s holdings in Philip Morris International were worth $1,003,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Veritas Asset Management LLP increased its stake in shares of Philip Morris International by 1.2% in the 1st quarter. Veritas Asset Management LLP now owns 6,548,888 shares of the company’s stock worth $578,856,000 after acquiring an additional 80,375 shares in the last quarter. Investec Asset Management LTD increased its stake in Philip Morris International by 8.0% during the 2nd quarter. Investec Asset Management LTD now owns 4,140,204 shares of the company’s stock valued at $325,130,000 after purchasing an additional 306,860 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Philip Morris International by 10.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 3,822,629 shares of the company’s stock valued at $300,191,000 after purchasing an additional 368,627 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. Finally, Pendal Group Ltd increased its stake in Philip Morris International by 31.5% during the 2nd quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock valued at $187,959,000 after purchasing an additional 637,613 shares in the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Michael R. Kunst purchased 500 shares of Philip Morris International stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of $80.74 per share, for a total transaction of $40,370.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction that occurred 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.
A number of research firms have weighed in on PM. Bank of America upgraded shares of 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 note on Friday, May 17th. 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. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating 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, ValuEngine lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. 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 a consensus rating of “Hold” and an average price target of $93.92.
Shares of PM stock traded down $0.21 during trading hours on Wednesday, reaching $82.79. The company had a trading volume of 1,935,375 shares, compared to its average volume of 4,786,219. The business has a fifty day moving average price of $83.37 and a 200-day moving average price of $83.63. 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 cap of $132.11 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.21 earnings per share for the current fiscal year.
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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