Nicholas Hoffman & Company LLC. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,866 shares of the company’s stock after selling 516 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Philip Morris International were worth $1,376,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Solstein Capital LLC acquired a new position in Philip Morris International during the 4th quarter valued at $28,000. Howard Wealth Management LLC acquired a new position in Philip Morris International during the 4th quarter valued at $43,000. CBIZ Investment Advisory Services LLC acquired a new position in Philip Morris International during the 4th quarter valued at $48,000. Key Financial Inc acquired a new position in Philip Morris International during the 1st quarter valued at $41,000. Finally, S.A. Mason LLC acquired a new position in Philip Morris International during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 74.02% of the company’s stock.
A number of brokerages have recently issued reports on PM. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price objective for the company. in a research note on Wednesday, May 13th. Citigroup dropped their price objective on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. UBS Group increased their price objective on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Panmure Gordon upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, April 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $91.14.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The firm had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 4.95 EPS for the current fiscal year.
In other Philip Morris International news, insider Marc S. Firestone sold 22,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $86.27, for a total transaction of $1,897,940.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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.
Further Reading: Backdoor Roth IRA Conversion and Strategy
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.