Financial Architects Inc decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,461 shares of the company’s stock after selling 280 shares during the period. Financial Architects Inc’s holdings in Philip Morris International were worth $823,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PM. Brookstone Capital Management increased its stake in shares of Philip Morris International by 6.0% in the third quarter. Brookstone Capital Management now owns 52,536 shares of the company’s stock valued at $5,108,000 after buying an additional 2,961 shares in the last quarter. FTB Advisors Inc. increased its position in Philip Morris International by 10.8% in the third quarter. FTB Advisors Inc. now owns 21,041 shares of the company’s stock worth $2,041,000 after buying an additional 2,043 shares during the period. Heritage Wealth Advisors increased its position in Philip Morris International by 1.8% in the third quarter. Heritage Wealth Advisors now owns 67,054 shares of the company’s stock worth $6,520,000 after buying an additional 1,161 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Philip Morris International during the third quarter worth about $3,292,000. Finally, Meristem LLP increased its position in Philip Morris International by 30.7% in the third quarter. Meristem LLP now owns 2,673 shares of the company’s stock worth $260,000 after buying an additional 628 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.
Philip Morris International Inc. (NYSE:PM) traded up 0.45% on Friday, reaching $89.29. The company had a trading volume of 3,850,451 shares. The company’s 50-day moving average price is $93.88 and its 200 day moving average price is $98.46. The firm has a market capitalization of $138.52 billion, a P/E ratio of 21.36 and a beta of 0.91. Philip Morris International Inc. has a 1-year low of $84.46 and a 1-year high of $104.20.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 18th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.23 by $0.02. Philip Morris International had a net margin of 8.77% and a negative return on equity of 59.94%. The company had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post $4.53 EPS for the current year.
A number of research firms have recently issued reports on PM. Vetr downgraded Philip Morris International from a “strong-buy” rating to a “buy” rating and set a $100.12 price target on the stock. in a research note on Monday, November 21st. Jefferies Group restated a “hold” rating and issued a $94.00 price target (down from $101.00) on shares of Philip Morris International in a research note on Saturday, November 19th. Zacks Investment Research downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. Citigroup Inc. restated a “neutral” rating and issued a $106.00 price target on shares of Philip Morris International in a research note on Friday, October 21st. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $118.00 price target (up from $116.00) on shares of Philip Morris International in a research note on Friday, October 21st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $104.82.
In other Philip Morris International news, Director Jun Makihara purchased 2,000 shares of the stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $89.22 per share, with a total value of $178,440.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.