Cetera Advisors LLC Increases Stake in Philip Morris International Inc. (NYSE:PM)

Cetera Advisors LLC increased its holdings in Philip Morris International Inc. (NYSE:PM) by 10.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,987 shares of the company’s stock after purchasing an additional 2,695 shares during the period. Cetera Advisors LLC’s holdings in Philip Morris International were worth $2,203,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PM. Nuveen Asset Management LLC raised its holdings in Philip Morris International by 23,232.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,295,814 shares of the company’s stock valued at $887,059,000 after buying an additional 11,247,401 shares during the last quarter. Invesco Ltd. raised its holdings in Philip Morris International by 41.5% during the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after buying an additional 8,824,567 shares during the last quarter. Morgan Stanley raised its holdings in Philip Morris International by 16.9% during the 2nd quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock valued at $2,708,164,000 after buying an additional 4,998,070 shares during the last quarter. BlackRock Inc. raised its holdings in Philip Morris International by 5.1% during the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock valued at $7,918,335,000 after buying an additional 4,879,296 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Philip Morris International by 56.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock valued at $360,204,000 after buying an additional 1,663,264 shares during the last quarter. 74.29% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on PM shares. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, October 1st. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $100.00 in a report on Friday, July 19th. Wells Fargo & Co lowered their price target on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. set a $86.00 price target on shares of Philip Morris International and gave the company a “neutral” rating in a report on Wednesday, August 28th. Finally, Credit Suisse Group set a $80.00 price target on shares of Philip Morris International and gave the company a “sell” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International has an average rating of “Buy” and a consensus target price of $92.27.

Shares of Philip Morris International stock opened at $83.64 on Friday. The company has a 50-day moving average of $80.04 and a 200 day moving average of $80.33. The firm has a market cap of $130.29 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.03 and a beta of 1.00. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.08. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The company had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the business earned $1.44 EPS. Philip Morris International’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 5.24 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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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