Boys Arnold & Co. Inc. lifted its stake in Philip Morris International Inc. (NYSE:PM) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 46,454 shares of the company’s stock after acquiring an additional 2,010 shares during the quarter. Boys Arnold & Co. Inc.’s holdings in Philip Morris International were worth $4,908,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PM. NewSquare Capital LLC increased its holdings in Philip Morris International by 6,572.3% in the third quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after buying an additional 100,228 shares during the last quarter. Front Row Advisors LLC acquired a new position in Philip Morris International in the fourth quarter worth approximately $118,000. Vantage Investment Advisors LLC increased its holdings in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after buying an additional 10 shares during the last quarter. Cerebellum GP LLC acquired a new position in Philip Morris International in the fourth quarter worth approximately $128,000. Finally, Financial Engines Advisors L.L.C. increased its holdings in Philip Morris International by 399.2% in the third quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock worth $134,000 after buying an additional 962 shares during the last quarter. 73.20% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Andre Calantzopoulos sold 49,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the completion of the sale, the chief executive officer now directly owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marc S. Firestone sold 13,650 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now directly owns 189,199 shares of the company’s stock, valued at $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.17 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. equities research analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current year.
PM has been the topic of a number of research reports. Piper Jaffray Companies set a $130.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Thursday, November 16th. Morgan Stanley increased their price objective on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Bank of America dropped their price objective on Philip Morris International from $115.00 to $113.00 and set a “neutral” rating on the stock in a report on Friday, February 9th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Finally, Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Friday, January 19th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and an average target price of $123.79.
Philip Morris International 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.
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