Philip Morris International Inc. (PM) Shares Sold by First Republic Investment Management Inc.

First Republic Investment Management Inc. reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.1% in the first quarter, Holdings Channel reports. The fund owned 339,373 shares of the company’s stock after selling 10,720 shares during the quarter. First Republic Investment Management Inc.’s holdings in Philip Morris International were worth $29,997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its stake in Philip Morris International by 6,541.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,319,091 shares of the company’s stock worth $170,000 after purchasing an additional 11,148,661 shares during the last quarter. BlackRock Inc. lifted its stake in Philip Morris International by 5.1% in the fourth quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock worth $6,345,520,000 after purchasing an additional 4,576,645 shares during the last quarter. Deutsche Bank AG lifted its stake in Philip Morris International by 50.5% in the fourth quarter. Deutsche Bank AG now owns 11,054,233 shares of the company’s stock worth $737,970,000 after purchasing an additional 3,710,763 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Philip Morris International by 168.1% in the fourth quarter. Two Sigma Advisers LP now owns 3,936,832 shares of the company’s stock worth $262,823,000 after purchasing an additional 2,468,400 shares during the last quarter. Finally, Flossbach Von Storch AG lifted its stake in Philip Morris International by 15.3% in the fourth quarter. Flossbach Von Storch AG now owns 18,204,516 shares of the company’s stock worth $1,215,333,000 after purchasing an additional 2,419,260 shares during the last quarter. 72.87% of the stock is owned by institutional investors.

In related news, insider Mario Masseroli sold 1,200 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $84.32, for a total transaction of $101,184.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Louis C. Camilleri sold 70,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Shares of NYSE:PM opened at $84.64 on Friday. The stock has a market cap of $131.68 billion, a PE ratio of 16.60, a PEG ratio of 2.03 and a beta of 0.93. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.16 EPS for the current year.

Several analysts have weighed in on PM shares. Piper Jaffray Companies set a $100.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, February 8th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Thursday, April 4th. UBS Group raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $86.00 to $101.00 in a research note on Wednesday, February 27th. Citigroup boosted their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $92.57.

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About Philip Morris International

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.

Further Reading: Price-Sales Ratio

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

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