Iberiabank Corp increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 60,518 shares of the company’s stock after buying an additional 728 shares during the period. Philip Morris International comprises approximately 1.0% of Iberiabank Corp’s investment portfolio, making the stock its 25th biggest holding. Iberiabank Corp’s holdings in Philip Morris International were worth $6,394,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. NewSquare Capital LLC boosted its position in Philip Morris International by 6,572.3% during the third quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after purchasing an additional 100,228 shares in the last quarter. Front Row Advisors LLC purchased a new stake in Philip Morris International during the fourth quarter worth $118,000. Vantage Investment Advisors LLC boosted its position in Philip Morris International by 1.0% during the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at $128,000. Finally, Financial Engines Advisors L.L.C. lifted its position in shares of 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 valued at $134,000 after acquiring an additional 962 shares in the last quarter. 73.20% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on PM. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Morgan Stanley upped their price objective on Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. 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 research report on Friday, January 19th. Piper Jaffray Companies restated an “overweight” rating and issued a $137.00 price objective (up from $130.00) on shares of Philip Morris International in a research report on Thursday, January 11th. Finally, Citigroup reduced their price objective on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus target price of $124.57.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.17 billion. During the same quarter last year, the company posted $1.10 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. analysts predict that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.
In other Philip Morris International news, insider Marc S. Firestone sold 13,650 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the completion of the sale, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 792,765 shares of the company’s stock, valued at $82,178,019.90. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.
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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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