Twin Capital Management Inc. decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 40.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,767 shares of the company’s stock after selling 45,143 shares during the quarter. Twin Capital Management Inc.’s holdings in Philip Morris International were worth $5,243,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of PM. Kavar Capital Partners LLC lifted its position in Philip Morris International by 2.1% during the second quarter. Kavar Capital Partners LLC now owns 29,998 shares of the company’s stock valued at $2,356,000 after purchasing an additional 625 shares during the period. TRUE Private Wealth Advisors raised its position in Philip Morris International by 2.2% in the second quarter. TRUE Private Wealth Advisors now owns 13,744 shares of the company’s stock worth $1,094,000 after acquiring an additional 299 shares during the period. Jacobs & Co. CA raised its position in Philip Morris International by 3.4% in the second quarter. Jacobs & Co. CA now owns 4,625 shares of the company’s stock worth $363,000 after acquiring an additional 150 shares during the period. Hayden Royal LLC bought a new position in Philip Morris International in the second quarter worth approximately $215,000. Finally, Close Asset Management Ltd raised its position in Philip Morris International by 4.3% in the second quarter. Close Asset Management Ltd now owns 216,787 shares of the company’s stock worth $17,021,000 after acquiring an additional 8,901 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.
Several research analysts have weighed in on the stock. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Co set a $102.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 19th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Morgan Stanley cut their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and raised their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Hold” and a consensus target price of $93.92.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. On average, research analysts anticipate that Philip Morris International Inc. will post 5.21 EPS for the current year.
In other news, VP Michael R. Kunst bought 500 shares of the stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $80.74 per share, for a total transaction of $40,370.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mario Masseroli sold 1,100 shares of the firm’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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.
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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