Royal Fund Management LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,151 shares of the company’s stock, valued at approximately $83,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in Philip Morris International by 12.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 87,163 shares of the company’s stock valued at $6,359,000 after buying an additional 9,836 shares during the period. AGF Investments LLC raised its stake in Philip Morris International by 193.3% in the first quarter. AGF Investments LLC now owns 28,674 shares of the company’s stock valued at $2,092,000 after buying an additional 18,896 shares during the period. AGF Investments Inc. raised its stake in Philip Morris International by 0.8% in the first quarter. AGF Investments Inc. now owns 1,471,795 shares of the company’s stock valued at $107,382,000 after buying an additional 11,370 shares during the period. AGF Investments America Inc. raised its stake in Philip Morris International by 1.4% in the first quarter. AGF Investments America Inc. now owns 67,168 shares of the company’s stock valued at $4,901,000 after buying an additional 958 shares during the period. Finally, Hancock Whitney Corp raised its stake in Philip Morris International by 45.3% in the first quarter. Hancock Whitney Corp now owns 104,492 shares of the company’s stock valued at $7,623,000 after buying an additional 32,554 shares during the period. Institutional investors and hedge funds own 74.02% of the company’s stock.
In other Philip Morris International news, insider Marc S. Firestone sold 22,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.
Several research firms have issued reports on PM. Panmure Gordon upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, April 3rd. UBS Group upped their price objective on Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Goldman Sachs Group began coverage on Philip Morris International in a research note on Wednesday, April 1st. They issued a “buy” rating and a $80.00 price objective on the stock. Cfra upped their price objective on Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Citigroup decreased their target price on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.14.
Shares of NYSE:PM opened at $70.45 on Friday. The company has a market capitalization of $109.78 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.15 and a beta of 0.79. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17. The business’s 50 day simple moving average is $73.12 and its 200 day simple moving average is $80.74.
Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.08. The firm had revenue of $7.15 billion for the quarter, compared to the consensus estimate of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 4.95 EPS 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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