Stoneridge Investment Partners LLC boosted its stake in Philip Morris International Inc. (NYSE:PM) by 365.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 67,054 shares of the company’s stock after buying an additional 52,655 shares during the period. Philip Morris International makes up 0.9% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 16th largest position. Stoneridge Investment Partners LLC’s holdings in Philip Morris International were worth $6,519,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. Emerald Acquisition Ltd. purchased a new position in shares of Philip Morris International during the second quarter valued at about $272,521,000. Vanguard Group Inc. raised its stake in Philip Morris International by 2.6% in the second quarter. Vanguard Group Inc. now owns 99,323,022 shares of the company’s stock worth $10,103,138,000 after buying an additional 2,501,571 shares in the last quarter. Bank of Montreal Can bought a new stake in Philip Morris International during the second quarter worth $173,009,000. BlackRock Fund Advisors raised its stake in Philip Morris International by 6.6% in the second quarter. BlackRock Fund Advisors now owns 25,591,100 shares of the company’s stock worth $2,603,127,000 after buying an additional 1,590,036 shares in the last quarter. Finally, Analytic Investors LLC raised its stake in Philip Morris International by 661.4% in the second quarter. Analytic Investors LLC now owns 1,407,638 shares of the company’s stock worth $143,185,000 after buying an additional 1,222,768 shares in the last quarter. 70.27% of the stock is currently owned by institutional investors.
Philip Morris International Inc. (NYSE:PM) traded up 1.06% during midday trading on Monday, hitting $90.24. The stock had a trading volume of 4,987,589 shares. Philip Morris International Inc. has a 12 month low of $84.46 and a 12 month high of $104.20. The stock has a market cap of $139.99 billion, a price-to-earnings ratio of 21.59 and a beta of 0.91. The stock has a 50 day moving average of $93.88 and a 200 day moving average of $98.46.
Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 18th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $6.98 billion during the quarter, compared to analysts’ expectations of $7.01 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The business’s revenue was up .8% compared to the same quarter last year. Analysts expect that Philip Morris International Inc. will post $4.53 EPS for the current fiscal year.
A number of research firms have weighed in on PM. Citigroup Inc. restated a “neutral” rating and set a $106.00 target price on shares of Philip Morris International in a report on Friday, October 21st. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. upgraded Philip Morris International from a “neutral” rating to a “buy” rating and upped their target price for the stock from $106.00 to $114.00 in a report on Monday, September 12th. Jefferies Group restated a “hold” rating and set a $101.00 target price (up previously from $99.00) on shares of Philip Morris International in a report on Saturday, October 22nd. Finally, Vetr upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating and set a $105.06 target price for the company in a report on Thursday, November 10th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $104.82.
In other news, Director Jun Makihara purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was purchased at an average cost of $89.22 per share, with a total value of $178,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.
About Philip Morris International
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.