Patten Group Inc. boosted its position in Philip Morris International Inc (NYSE:PM) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,313 shares of the company’s stock after buying an additional 102 shares during the period. Patten Group Inc.’s holdings in Philip Morris International were worth $490,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Gradient Investments LLC boosted its stake in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares during the last quarter. Welch Investments LLC purchased a new stake in shares of Philip Morris International during the first quarter worth about $113,000. American Beacon Advisors Inc. purchased a new stake in shares of Philip Morris International during the first quarter worth about $114,000. Acropolis Investment Management LLC purchased a new stake in shares of Philip Morris International during the first quarter worth about $117,000. Finally, Gemmer Asset Management LLC boosted its stake in shares of Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after buying an additional 322 shares during the last quarter. Institutional investors and hedge funds own 72.30% of the company’s stock.
Shares of Philip Morris International Inc (PM) traded down 0.69% during trading on Friday, hitting $115.13. The company’s stock had a trading volume of 1,194,748 shares. The company has a market capitalization of $178.82 billion, a P/E ratio of 25.51 and a beta of 0.93. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The firm’s 50 day moving average is $117.25 and its 200-day moving average is $113.51.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.15 EPS. Analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
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A number of equities analysts have weighed in on PM shares. Jefferies Group LLC restated a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. Vetr cut Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target for the company. in a report on Monday, May 8th. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and upped their price target for the stock from $118.00 to $119.00 in a report on Friday, August 11th. BidaskClub upgraded Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $118.00 price target on shares of Philip Morris International in a report on Sunday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $121.79.
About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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