Acadian Asset Management LLC Sells 9,041 Shares of Philip Morris International Inc. (NYSE:PM)

Acadian Asset Management LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 12.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 65,680 shares of the company’s stock after selling 9,041 shares during the period. Acadian Asset Management LLC’s holdings in Philip Morris International were worth $4,925,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. Blue Chip Wealth Management Inc. raised its position in Philip Morris International by 4.1% during the 2nd quarter. Blue Chip Wealth Management Inc. now owns 3,451 shares of the company’s stock valued at $242,000 after purchasing an additional 135 shares during the last quarter. Pure Financial Advisors Inc. raised its position in Philip Morris International by 3.8% during the 3rd quarter. Pure Financial Advisors Inc. now owns 3,672 shares of the company’s stock valued at $275,000 after purchasing an additional 135 shares during the last quarter. Stock Yards Bank & Trust Co. raised its position in Philip Morris International by 0.5% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 29,221 shares of the company’s stock valued at $2,191,000 after purchasing an additional 141 shares during the last quarter. Ropes Wealth Advisors LLC raised its position in Philip Morris International by 3.3% during the 3rd quarter. Ropes Wealth Advisors LLC now owns 4,511 shares of the company’s stock valued at $338,000 after purchasing an additional 142 shares during the last quarter. Finally, Dowling & Yahnke LLC raised its position in Philip Morris International by 2.2% during the 3rd quarter. Dowling & Yahnke LLC now owns 6,676 shares of the company’s stock valued at $501,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 73.98% of the company’s stock.

A number of research analysts have weighed in on PM shares. Argus downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, October 23rd. Bank of America upped their target price on Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 11th. The Goldman Sachs Group upped their target price on Philip Morris International from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Piper Sandler upped their target price on Philip Morris International from $98.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Citigroup upgraded Philip Morris International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $82.00 to $100.00 in a report on Wednesday, October 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $94.00.

Philip Morris International stock opened at $76.73 on Friday. The company has a market capitalization of $119.49 billion, a P/E ratio of 15.53, a PEG ratio of 2.15 and a beta of 0.78. The stock’s 50 day moving average is $75.04 and its 200 day moving average is $75.02. Philip Morris International Inc. has a twelve month low of $56.01 and a twelve month high of $90.17.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.27 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Research analysts predict that Philip Morris International Inc. will post 5.08 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, 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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