Traynor Capital Management Inc. Acquires New Position in Philip Morris International Inc. (PM)

Traynor Capital Management Inc. acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,251 shares of the company’s stock, valued at approximately $903,000.

A number of other large investors have also added to or reduced their stakes in PM. IMA Wealth Inc. bought a new position in shares of Philip Morris International during the second quarter worth approximately $149,000. Arbor Wealth Management LLC increased its stake in shares of Philip Morris International by 34.0% during the first quarter. Arbor Wealth Management LLC now owns 51,869 shares of the company’s stock worth $4,194,000 after purchasing an additional 13,166 shares during the period. Mariner LLC increased its stake in shares of Philip Morris International by 22.9% during the first quarter. Mariner LLC now owns 52,944 shares of the company’s stock worth $5,263,000 after purchasing an additional 9,857 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Philip Morris International by 27.7% during the second quarter. CHICAGO TRUST Co NA now owns 43,155 shares of the company’s stock worth $3,485,000 after purchasing an additional 9,348 shares during the period. Finally, Hollencrest Capital Management increased its stake in shares of Philip Morris International by 7.2% during the second quarter. Hollencrest Capital Management now owns 107,347 shares of the company’s stock worth $8,667,000 after purchasing an additional 7,231 shares during the period. Hedge funds and other institutional investors own 72.24% of the company’s stock.

A number of brokerages have recently weighed in on PM. ValuEngine upgraded Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Bank of America lowered Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $113.00 to $88.00 in a research note on Friday, April 20th. Goldman Sachs Group downgraded Philip Morris International from a “conviction-buy” rating to a “buy” rating in a research report on Friday, April 20th. Stifel Nicolaus reduced their price target on Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, April 20th. Finally, Cowen reissued a “buy” rating and set a $105.00 price target on shares of Philip Morris International in a research report on Friday, April 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $104.55.

In related news, Director Jennifer Li purchased 40,000 shares of Philip Morris International stock in a transaction that occurred on Monday, May 14th. The shares were acquired at an average price of $81.30 per share, with a total value of $3,252,000.00. Following the completion of the transaction, the director now directly owns 47,323 shares of the company’s stock, valued at approximately $3,847,359.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Shares of NYSE:PM opened at $82.56 on Friday. The company has a market cap of $131.20 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.80 and a beta of 0.90. Philip Morris International Inc. has a 1 year low of $76.21 and a 1 year high of $119.43. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 earnings per share. analysts anticipate that Philip Morris International Inc. will post 5.06 EPS for the current fiscal year.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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