Argent Trust Co increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,212 shares of the company’s stock after buying an additional 496 shares during the quarter. Argent Trust Co’s holdings in Philip Morris International were worth $1,750,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PM. Thrivent Financial for Lutherans raised its position in shares of Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock worth $14,791,000 after acquiring an additional 36,357 shares during the period. Schroder Investment Management Group raised its position in shares of Philip Morris International by 53.0% in the third quarter. Schroder Investment Management Group now owns 5,916,842 shares of the company’s stock worth $482,460,000 after acquiring an additional 2,048,754 shares during the period. JGP Wealth Management LLC raised its position in shares of Philip Morris International by 19.8% in the third quarter. JGP Wealth Management LLC now owns 3,041 shares of the company’s stock worth $249,000 after acquiring an additional 502 shares during the period. First Foundation Advisors raised its position in shares of Philip Morris International by 6.4% in the third quarter. First Foundation Advisors now owns 399,496 shares of the company’s stock worth $32,575,000 after acquiring an additional 23,947 shares during the period. Finally, Joel Isaacson & Co. LLC raised its position in shares of Philip Morris International by 137.1% in the fourth quarter. Joel Isaacson & Co. LLC now owns 17,149 shares of the company’s stock worth $1,192,000 after acquiring an additional 9,915 shares during the period. 73.37% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the sale, the chief executive officer now owns 844,901 shares of the company’s stock, valued at $71,613,808.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.
A number of brokerages have weighed in on PM. Piper Jaffray Companies set a $110.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Monday, December 3rd. UBS Group upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $86.00 to $101.00 in a research report on Wednesday. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Thursday, February 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research report on Sunday, February 10th. Finally, Morgan Stanley decreased their price objective on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. Philip Morris International presently has a consensus rating of “Hold” and a consensus price target of $91.86.
PM stock opened at $86.94 on Friday. The stock has a market cap of $135.48 billion, a PE ratio of 17.05, a P/E/G ratio of 1.80 and a beta of 0.91. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $109.90.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.46 billion. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. As a group, research analysts forecast that Philip Morris International Inc. will post 5.4 EPS for the current fiscal year.
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Philip Morris International Company 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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