Philip Morris International Inc. (NYSE:PM) Shares Acquired by Cigna Investments Inc. New

Cigna Investments Inc. New grew its stake in Philip Morris International Inc. (NYSE:PM) by 6.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 43,920 shares of the company’s stock after purchasing an additional 2,707 shares during the period. Cigna Investments Inc. New’s holdings in Philip Morris International were worth $3,204,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Philip Morris International by 2.3% in the 1st quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock valued at $7,068,378,000 after buying an additional 2,144,926 shares in the last quarter. Capital World Investors increased its holdings in shares of Philip Morris International by 25.6% in the 4th quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock valued at $6,244,717,000 after purchasing an additional 14,952,837 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Philip Morris International by 2.0% in the 4th quarter. Capital Research Global Investors now owns 39,525,390 shares of the company’s stock valued at $3,363,216,000 after purchasing an additional 793,836 shares in the last quarter. Capital International Investors increased its holdings in Philip Morris International by 2.5% during the 4th quarter. Capital International Investors now owns 36,680,609 shares of the company’s stock valued at $3,121,153,000 after acquiring an additional 879,917 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Philip Morris International by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 25,787,931 shares of the company’s stock valued at $2,190,636,000 after acquiring an additional 722,472 shares in the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

PM has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of Philip Morris International from $99.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Cowen raised shares of Philip Morris International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $90.00 to $102.00 in a research report on Thursday, February 13th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Goldman Sachs Group started coverage on shares of Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price target on the stock. Finally, Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Buy” and a consensus target price of $91.14.

In related news, insider Marc S. Firestone sold 22,000 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.

Philip Morris International stock traded down $0.05 during midday trading on Friday, hitting $70.45. The company’s stock had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. The stock’s 50-day moving average price is $73.12 and its 200-day moving average price is $80.74. Philip Morris International Inc. has a 12 month low of $56.01 and a 12 month high of $90.17. The company has a market capitalization of $109.78 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.08. The firm had revenue of $7.15 billion for 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%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. As a group, equities analysts predict that Philip Morris International Inc. will post 4.95 EPS for the current fiscal year.

Philip Morris International Company 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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