Heritage Trust Co decreased its position in Philip Morris International Inc. (NYSE:PM) by 20.4% during the first quarter, HoldingsChannel.com reports. The firm owned 9,662 shares of the company’s stock after selling 2,474 shares during the quarter. Heritage Trust Co’s holdings in Philip Morris International were worth $706,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PM. Solstein Capital LLC bought a new position in shares of Philip Morris International in the 4th quarter worth approximately $28,000. Key Financial Inc purchased a new stake in Philip Morris International in the 1st quarter worth approximately $41,000. Howard Wealth Management LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $43,000. CBIZ Investment Advisory Services LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $48,000. Finally, S.A. Mason LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $49,000. Institutional investors own 74.02% of the company’s stock.
In related 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 Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by company insiders.
Several research firms recently issued reports on PM. Cfra increased their target price on shares of Philip Morris International from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Goldman Sachs Group initiated coverage on shares of Philip Morris International in a report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price objective for the company. Cowen raised shares of Philip Morris International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $102.00 in a report on Thursday, February 13th. Morgan Stanley cut their price objective on shares of Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, Citigroup cut their price objective on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a 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 stock. The stock presently has an average rating of “Buy” and a consensus price target of $91.14.
PM traded down $0.05 during trading on Friday, reaching $70.45. The company had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. The stock has a market cap of $109.78 billion, a P/E ratio of 14.32, a PEG ratio of 2.15 and a beta of 0.79. The business has a 50 day simple moving average of $73.12 and a 200-day simple moving average of $80.74. Philip Morris International Inc. has a 52 week low of $56.01 and a 52 week high of $90.17.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. The company had revenue of $7.15 billion during 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%. Philip Morris International’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, equities research analysts expect that Philip Morris International Inc. will post 4.95 earnings per share 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.
Featured Story: Price-Sales Ratio
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.