Philip Morris International Inc (PM) Holdings Cut by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lessened its stake in shares of Philip Morris International Inc (NYSE:PM) by 2.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,291 shares of the company’s stock after selling 128 shares during the period. Flagship Harbor Advisors LLC’s holdings in Philip Morris International were worth $597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp raised its holdings in Philip Morris International by 1.8% during the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the period. Legal & General Group Plc grew its stake in Philip Morris International by 3.9% during the 1st quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock valued at $814,358,000 after acquiring an additional 268,119 shares in the last quarter. Swiss National Bank grew its stake in Philip Morris International by 26.2% during the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after acquiring an additional 1,189,800 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Philip Morris International by 4.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock valued at $604,524,000 after acquiring an additional 251,734 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Philip Morris International by 4.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock valued at $571,737,000 after acquiring an additional 218,999 shares in the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

In other news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

Several equities analysts have weighed in on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Vetr cut Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 target price on the stock. in a research note on Monday, May 22nd. Bank of America Corporation lifted their target price on Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Finally, BidaskClub cut Philip Morris International from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus target price of $122.79.

Shares of Philip Morris International Inc (NYSE PM) traded down 1.15% during midday trading on Tuesday, hitting $116.57. The company had a trading volume of 742,805 shares. The firm has a market capitalization of $181.06 billion, a P/E ratio of 25.83 and a beta of 0.94. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55. The firm’s 50-day moving average is $116.35 and its 200-day moving average is $115.41.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

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Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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

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