Visionary Asset Management Inc. Sells 4,404 Shares of Philip Morris International Inc (PM)

Visionary Asset Management Inc. cut its stake in Philip Morris International Inc (NYSE:PM) by 13.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,349 shares of the company’s stock after selling 4,404 shares during the period. Philip Morris International makes up about 0.9% of Visionary Asset Management Inc.’s investment portfolio, making the stock its 29th largest position. Visionary Asset Management Inc.’s holdings in Philip Morris International were worth $3,212,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PM. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Philip Morris International during the fourth quarter valued at about $351,755,000. C WorldWide Group Holding A S raised its stake in Philip Morris International by 70.9% in the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after buying an additional 1,255,776 shares during the last quarter. Swiss National Bank raised its stake in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after buying an additional 1,189,800 shares during the last quarter. State Street Corp raised its stake in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after buying an additional 1,058,408 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Philip Morris International by 42.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock valued at $236,086,000 after buying an additional 618,100 shares during the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Philip Morris International Inc (NYSE:PM) traded down 0.52% during midday trading on Friday, reaching $115.33. 4,178,162 shares of the company’s stock traded hands. The stock has a market cap of $179.13 billion, a PE ratio of 25.56 and a beta of 0.93. The stock’s 50 day moving average price is $117.20 and its 200-day moving average price is $113.64. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current year.

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PM has been the subject of several recent analyst reports. Vetr upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $108.70 target price for the company in a research note on Wednesday, April 26th. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. BidaskClub downgraded shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $118.00 price target on shares of Philip Morris International in a report on Sunday, April 23rd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Philip Morris International currently has a consensus rating of “Buy” and an average price target of $121.79.

Philip Morris International Company Profile

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.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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